Bidders swoop on motorway services firm

PRIVATE equity house 3i Infrastructure is preparing to make a bid for motorway service station operator Welcome Break.

The deal would see 3i buy a 55pc stake in the company from investment bank Evercore.

Welcome Break – which is thought to be worth more than £700m – has 27 sites across the UK which are visited by around 85m people every year.

The service stations often include chains such as Harry Ramsden’s, Burger King, Pizza Express and Starbucks.

Evercore is selling the UK portfolio within the NIBC European Infrastructure Fund, of which the majority is its 55pc stake in Welcome Break.

The remaining assets – including hospitals, private finance initiatives and renewable energy projects – will be bought by Equitix, an asset manager, as part of a joint bid.