Meridiam announced today that it has acquired Conrac Solutions, a leading developer and operator of mobility infrastructure for airports across the United States. Conrac Solutions has established a leading position in developing and operating consolidated rent-a-car facilities in partnership with airports and the rent-a-car industry across the U.S. Conrac Solutions’ facilities deliver a centralized, more efficient car rental experience for travelers and multiple decongestion and decarbonization benefits to airports, making Conrac Solutions a priority partner for airport authorities and managers.
In acquiring Conrac Solutions, Meridiam aims to expand on its commitment to deliver high quality infrastructure services to U.S. public transportation authorities and to improve the long-term sustainability and resilience of critical transportation infrastructure for communities nationwide.
“We’re excited about building on Conrac Solutions’ leadership position and working with its talented team to continue to partner with airport authorities and the rent-a-car industry in delivering on our strategy of improving mobility for people and goods across the country,” said Nicolas Rubio, Meridiam partner and CEO, Americas for Meridiam.
“Meridiam is the ideal long-term partner for Conrac Solutions. Not only does this acquisition demonstrate confidence in our unique business model and outstanding team, it paves the way for continuing to provide optimal services to the rent-a-car industry and airports across the country with a strong strategic partner aligned at the intersection of airport infrastructure, mobility, and the important ongoing objectives of environmental impact and operational efficiency,” said Conrac Solutions’ CEO Michael Minerva.
As an independent investment manager and Certified B Corporation, Meridiam is committed to delivering sustainable and resilient projects that positively impact communities for the long-term in three core sectors: sustainable mobility, critical public services and innovative low carbon solutions. Through its 120 assets to date, including LaGuardia Airport Terminal B, Port of Miami Tunnel, and the Suez Group, the firm’s investments have created over 237,300 direct and indirect jobs globally, including 20,000 in the U.S. to date.