Our Impact
Conrac Solutions, United States
Background
In June 2023, Meridiam acquired Conrac Solutions (“CS”), a leading developer, operator and manager of consolidated rent-a-car facilities (“ConRACs”) at airports around the United States.
CS develops and manages ConRACs through long-term, PPP-like agreements with US airport authorities, designing, building, operating and maintaining the facilities on behalf of both the airports and rental car companies.
The platform reinforces Meridiam’s development and operating capabilities in helping to address growing airport infrastructure needs across the US, in view of growing passenger traffic, aging facilities, land-use constraints and industry decarbonization. CS is also expected to reinforce its own market leadership by leveraging Meridiam’s longstanding public sector relationships, including with key cities and airport authorities nationwide.
Meridiam will also have the option to invest directly into individual projects developed by CS, typically structured through PPP-like contracts with airport authorities and project finance schemes.
Stage:
In Operations
ESG/SDG Key Facts
ConRACs are designed to reduce the carbon footprints of airports by consolidating previously disparate operations into a central facility and thereby reducing traffic congestion and travel time at the airports. Further measures include efficient wayfinding, LED lighting and grey water reuse. As part of Meridiam’s acquisition, CS will also seek to accelerate the implementation of EV charging, renewable energy generation and storage, and airport utility decarbonization in both new and existing ConRAC facilities as well as further contracted revenue projects in partnership with airport authorities.
