Meet The Team: Purple Line Transit Partners
Purple Line Transit Partners (PLTP) is led by three experienced and successful public-private partnership (P3) developers and equity investors that have ample financial capacity to fully commit the equity required for a project of this nature and size and to fund such equity when required. Meridiam Infrastructure Purple Line, LLC (Meridiam), Fluor Enterprises Inc. (Fluor) and Star America Purple Line, LLC (Star America), all Equity Members of PLTP, will provide the required equity investment for the Purple Line Project.
The combination of PLTP’s Equity Members represents an investment approach that provides for alignment of interests within the consortium through vertical integration and a long-term view from inception all the way through to hand-back. Fluor’s involvement as an Equity Member, a member of the Design-Build Joint Venture, and a member of the O&M Joint Venture, has ensured that one of its members is involved in every phase of the Project, guaranteeing that the interests of the entire consortium will be aligned.
Meridiam is a leading equity investor, developer, asset manager, and long-term partner in P3 projects in the U.S., Canada, and Europe. Meridiam’s dedicated 25-year funds enable it to be a long-term partner with the public sector from project inception through operations. With global assets under management, including rail projects, of approximately $5 billion (representing a construction value in excess of $40 billion), Meridiam has a distinct position in the industry as a community-values investor in P3 transportation projects that involve new construction or capital improvements. Meridiam’s investors include public pension funds, labor pension funds, and life insurance companies.
Fluor is the leading design-build investor in the U.S. market, having developed the first P3 transportation projects in Virginia, South Carolina, Colorado, and Texas. Fluor is the largest publicly traded engineering / procurement / construction company in the U.S. and has the highest long-term debt ratings in the industry. Fluor approaches project equity investment as part of a whole life approach to projects which includes development, financing, design, construction, O&M, and rehabilitation for transportation P3 projects. Fluor has current cash and investments in excess of $3 billion and committed credit facilities of $2.8 billion to source equity investment funding requirements. Fluor brings vast urban transit and world-class P3 experience to this project.
Star America Infrastructure Partners is an independent US headquartered developer and manager of greenfield infrastructure assets in North America. Star America manages $300mm of capital commitments from US labor pensions, insurance companies, asset managers, regional construction companies and high net worth individuals, among others. Star America focuses on partnering with states and public agencies to deliver infrastructure projects across the transportation, social and environmental sectors. Star America’s track record includes seven long term concessions or leases for public use infrastructure assets valued at approximately $5 billion. Star America’s mission is to become the preferred partner of states and public agencies in rebuilding America’s infrastructure.
Purple Line Transit Constructors (PLTC)
The design-build team of Fluor, The Lane Construction Corporation (Lane), and Traylor Bros., Inc. (Traylor) combines companies with experience as design-build delivery contractors on dozens of applicable, mega design-build projects. Fluor and Lane, in a number of different capacities, have worked on many major design-build projects within the region and throughout the United States. Traylor is an industry-leading civil and tunnel construction company with proven expertise in urban transit environments. The team also includes the local knowledge, experience, and execution capabilities of PLTC’s dedicated lead design firm Atkins and dedicated design sub-consultant Hatch Mott McDonald, and construction subcontractors M.C. Dean and Hensel Phelps, as well as a group of dedicated subcontractors, including Light Rail Vehicle (LRV) supplier CAF and Interfleet, a Rolling Stock Advisor.
Purple Line Transit Operators (PLTO)
PLTO will deliver the O&M services for the Purple Line System. The PLTO member entities of Fluor, Alternate Concepts Inc. (ACI), and CAF USA, Inc. (CAF) possess extensive experience to draw upon for the Purple Line. Fluor maintains rail systems in the Netherlands that are part of the Trans-European rail network. Fluor and ACI are teamed to provide 30 years of O&M services on the Denver Eagle P3 Project. ACI has 25 years of experience operating and maintaining transit services throughout North America, including direct operation of rail services in Phoenix, Boston, and Puerto Rico. CAF maintains more than 4,000 vehicles located in Houston, Texas; Zaragoza, Spain; Mexico City, Mexico; and Sydney, Australia; and operates a full-service assembly and manufacturing plant in Elmira, New York.
PLTO will integrate the knowledge base of these firms with the expertise gained from rail start-ups, such as the MBTA Commuter Rail (2003), Tren Urbano Heavy Rail (2004), Valley Metro Light Rail (2008), Houston Metro (2013), and others to achieve the long-term success of the Purple Line.
PLTO is engaged from the development phase of the project through substantial completion. Resources are available at each phase of the project beginning with inclusion in the Technical Working Groups where PLTO representatives provide input into operational design elements, constructability and operability reviews, and service life analysis of the components of the system. During the construction and pre-revenue phases, PLTO will provide design reviews for maintainability and operability, support for plan and procedure preparation, and the training for vehicle and system maintenance. Operators will also be hired and trained from the local labor force for the vehicles to be burned in pre-revenue. At substantial completion, PLTO will assume operational responsibility in accordance with the project agreement.