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WE SPECIALISE IN PROVIDING FINANCIAL ADVISORY SERVICES TO INVESTORS AND COMPANIES
INVOLVED IN PUBLIC SERVICE CONTRACTS
WE HELP INVESTORS
MAKE SENSE OF THEIR CASHFLOWS
WE PROVIDE
CLARITY ON PROJECT PERFORMANCE
WE SPECIALISE IN PROVIDING FINANCIAL ADVISORY SERVICES TO INVESTORS AND COMPANIES
INVOLVED IN PUBLIC SERVICE CONTRACTS
WELCOME TO CLUBFINANCE

Clubfinance is an independent consultancy providing financial advice to large scale energy, infrastructure and accommodation projects. We support public services reform where social investment can be of benefit. We use financial modeling to make sense of projects with a variety of different structures. We produce simple, transparent models that are easy to understand, which we then use along with our commercial expertise to get deals done.

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We specialise in providing financial advisory services to investors and companies involved in public service contracts. We support major infrastructure projects ranging across wind, solar and biomass, road and rail, schools and hospitals, as well as public service delivery contracts in sectors such as healthcare and justice.

Financial models are at the core of our service and the heart of every project. Our models are built by experienced team members, who bring to bear their financial and commercial expertise from working on over 600 assignments.

Through our market leading operational modelling service, we have gained unparalleled insight into the operational issues faced by public service and project finance transactions. We work closely with our clients providing robust advice, often on complex issues, based on our detailed knowledge and understanding of the project. This is why our models and advice meet and exceed expectations.

SECTORS WE COVER
Energy
Advisors on over 10GW of investment in renewables and networks across solar, wind, biomass, waste and emerging technologies
Infrastructure
Appointed on over 200 infrastructure projects across roads, rail, water & other essential economic asset classes
Accommodation
Mandated on over 300 PPP projects across health, education, justice, housing and civic facilities
Public Services
A Cabinet Office approved supplier with experience in payment by results and attracting social investment into reformed public services
SERVICES WE PROVIDE
Due Diligence
With our focus on aligning commercial, technical and financial assumptions, we bring confidence to cashflows.
Acquisition Support
Helping you make confident buying decisions at speed.
Fundraising
Bringing to your benefit our knowledge of what investors and lenders are looking for.
Refinancing
Making it easy for lenders to say yes through first-rate preparation.
Accounting Advice
Making sense of how accounting can affect returns.
Advisory
With a win rate well above 50%, we combine compelling offers with a deal-closing drive.
Model Development
Our models are famous for their ease of use and for bringing clarity to complex matters.
Model Review
We offer high levels of assurance with a "value add" mindset.
Training
Sharing with you our insights and the practical tools to help you in your role.
OUR TEAM
PAUL AUSTIN
Director

Paul has over 15 years’ experience acting as a financial advisor on project finance transactions. After training as a chartered accountant with Robson Rhodes, he moved to Mazars as one of the four founding members of its Project Finance team. In 2009 he then co-founded the team at Clubfinance and has since developed a market leading operational modelling service and built a respected team that regularly work on the largest international projects. An expert in financial modelling, Paul also brings a wealth of commercial, operational and accounting expertise to all our clients. He has supported projects at all stages of their lifecycle, including financial closes, major variations, refinancings, acquisitions and disposals. He has worked on many of the largest infrastructure, PFI/PPP and renewable energy projects ranging from the Thameslink Rolling Stock Project to Bart’s Hospital and Bluefield Solar’s £180m portfolio refinancing.

NEIL RUTLEDGE
Director

Neil has over 20 year's experience advising on public-private partnerships. A chartered accountant, following finance roles with regeneration and justice agencies, Neil developed Grant Thornton's infrastructure advisory practice and as partner, ran the Firm’s modelling and risk function, advising on a wide variety of PFI/PPP, energy and real estate projects, including 2012 London Olympic Games legacy. Experienced in restructuring infrastructure assets and handling disputes, he acted for the Indian government on the $2.9bn Dabhol Power project, coal and gas projects in Africa as well as assets affected by the Icelandic banking crisis. He has raised over £3bn of debt for greenfield PPP projects and acted on more than £2bn of brownfield acquisitions. With Clubfinance, he has focused on developing our advice to funds across portfolios of European PPP assets and renewables projects across EMEA and South America.

DAVID SCRIVENS
Director

David specialises in providing corporate finance and financial consulting services, with over 20 years of industry experience. Prior to founding Clubfinance, David was an Associate Director at Navigant Consulting (incorporating ABROS) and before then a senior manager in RSM Robson Rhodes. David has advised on a wide variety of PFI/PPP, water and property transactions and has helped deliver over 300 infrastructure operational models. His background in financial modelling has seen him produce models and raised finance for a wide range of projects. Previously he has advised to the Office of the Rail Regulator on the £17bn proposed securitisation of Network Rail, and a £250m infrastructure fund on a portfolio refinancing. David has personal experience of purchasing companies and commercial properties and takes pride in finding the most efficient financing structures for companies. David is an active Director of 4 trading companies.

PHILIP RHODEN
Director

After gaining his PhD, Philip joined RSM Robson Rhodes (now Grant Thornton) gaining experience with a variety of corporate finance, regulated industry, and PPP/PFI financial models. Philip also has company-level experience including accounting, compliance and internal administration, together with public-sector experience gained working as an internal auditor at a Borough Council.

ALAN SAMUELS
Senior Manager

Alan is a senior manager with co-responsibility for managing the modelling team. He has 8+ years of financial modelling and PPP experience having joined in 2010 after 2.5 years as a Model Auditor at Mazars. Alan leads financial model build and audit assignments, having overseen 80+ operational model builds, model audits and FRS102 conversions. He has also co-managed major infra fund due diligence exercises. Alan's worked on projects in varying sectors including transport, health, education, and renewables. Projects have been based in the UK, Netherlands, France and Germany. Notable projects include Bart's Hospital modelling, a fund valuation (€800m+) and a operational model for a Dutch road (€324m). Alan also heads up external training and has delivered training to banks, funds, project sponsors, and also delivered a modelling lecture to University College London (UCL) MSc students. Alan is a chartered accountant (ICAEW).

MAYUR GONDHEA
Senior Manager

Mayur's has worked in the UK, Australia and USA in a career that spans 15+ years across financial advisory (previously ABROS, Navigant Consulting), banking (Merrill Lynch, Westpac Bank) and the public sector (Ofgem). An expert in the operation of regulated markets and the use of project finance to secure economic and social infrastructure, his experience ranges across structuring advice, supporting bidders (commercial advice & modelling), due diligence on equity investments, overseeing finance issues/modelling for regulated price controls and tender delivery. He has worked in a range of sectors including energy, utilities, defence, roads, hospitals, schools, housing, property and regeneration. Mayur has a Corporate Finance diploma from the ICAEW and a Business Finance degree from Durham University.

STEPHEN QUINN
Senior Manager

Stephen has worked across the Waste and Energy sectors for over 23 years providing internal financial modelling support and raising debt finance for a variety of PPP/PFI schemes. Stephen joined Clubfinance after 12 years with Waste sector specialist FCC Environment, where he played a key role in the company being awarded preferred bidder for 7 Waste PPP/PFI projects and seeing the company’s constructed EfW (Energy from Waste) capacity increase by 1.3m Tonnes pa. Stephen first gained energy sector experience working for Alstom where he headed up the company’s financial modelling and investment appraisal function, primarily working on energy plant and transmission projects in UK, China, Brazil, Argentina and Egypt. Whilst with Alstom Stephen also worked on a number of high speed rail and tramline projects, reflecting the company’s diverse manufacturing base. Stephen has a Business Studies Degree from Sheffield Hallam University.

STEVEN SHENTON
Manager

Steven has worked at Clubfinance for over 5 years and has extensive experience producing a variety of financial models. He has created models to win bids for government contracts in both the healthcare and justice sectors, optimised models for the valuation of secondary market purchases, created consolidated models for funds, and built statistical models for both viability testing and accounting purposes. In addition to working on projects across the EU, North and Central America, and Africa, Steven has produced operational models for schemes in sectors covering Building Schools for the Future (BSF), fire stations, health, power transmission, prisons, transport, renewables, EfW and social housing. A background in programming enables Steven to approach very complicated projects, and build a user friendly product that fulfils all requirements. Steven graduated in Mathematics from the University of Cambridge.

TRISTAN TAYLOR
Manager

Since joining Clubfinance in 2010, Tristan has worked on a number of varied mandates, including the audit of a complex LLP JV, accounting advice and FRS102 restatements, refinancing, fund and operational model builds. His work in operational model builds led to the appointment of Clubfinance for general advisory work on a prestige project, including a significant variation. Most recently Tristan led and managed the valuation of a number of funds, owned by a major infrastructure fund manager, as well as an exercise in value enhancement and due diligence, and the creation of a debt aggregation model. He has worked on projects across the EU and Canada, covering a broad spectrum of sectors from social housing and accommodation to rolling stock, justice and legal, laboratories, roads (toll and availability), healthcare and education. Tristan qualified as an accountant (CIMA) at Clubfinance.

DAN SCOWCROFT
Manager

Dan specialises in providing financial modelling support for transactions in the renewable energy sector, and since joining Clubfinance he has supported acquisitions and refinancings exceeding £300m in value. Additionally, he has developed a number of consolidation models for infrastructure and green energy funds, as well as a public sector body, provided external training courses, and worked in a primary bid advisory role. As well as renewables, Dan has worked on projects in sectors such as Health, Education, Transport, Housing, and Waste, spanning much of Europe, including France, Germany, the Netherlands, and Denmark. He joined Clubfinance with a Mathematics degree from the University of Warwick, and qualified as an accountant (CIMA) at Clubfinance.

JOANNA HAYES
Assistant Executive

Jo is a project manager at Clubfinance and has over 5 years of industry and financial modelling experience in many sectors including health, defence, education, housing, OFTOs and renewables. She has also worked on a number of models that span much of Europe, including France, Belgium, Spain and the Netherlands, in particular working on shareholder valuations at a fund and project co level. During her time at Clubfinance, Jo has carried out a variety of accounting and variation advisory work. She has assisted with the due diligence and value enhancement work in secondary market transactions, both on the buying and selling side. Jo is also a key training provider within the firm, providing training courses on excel and modelling both internally and externally for our clients. Whilst at Clubfinance, she has gained the AAT qualification and is currently completing CIMA.

ROBERT CAROLINE
Assistant Executive

Since joining Clubfinance, Robert has worked on projects in a wide variety of sectors including healthcare, property, education, transport, social housing, hydroponics and renewables. Notable UK projects include a £200m+ property model, a £1bn+ hospital and a hydroponics viability model used for extensive sensitivity analysis. He has also developed complex bespoke payment mechanisms in models for a £100m roads project and a £60m social housing project. Robert has also provided fund valuation and analysis support for several large investment portfolios, totalling over €2bn in value, with assets in the UK, Ireland, the Netherlands, France, Germany and Spain. Robert joined Clubfinance with a degree in Physics from the University of Warwick, and outside of work enjoys playing 5-a-side football and badminton.

PHILIP YOUNG
Assistant Executive

Since joining Clubfinance, Philip has worked on projects across a number of sectors and services across the UK, France, Germany, Republic of Ireland, the Netherlands and Sweden. His project experience includes refinancing portfolios of solar assets and a capital expenditure variation pricing and refinancing exercise of rolling stock. Philip has also built complex payment mechanisms for road and waste projects and, more recently, has been involved in developing Clubfinance's model audit processes. He joined the company upon graduation from the University of Oxford with a Master's degree in Physics. Away from work, Philip competes in target shooting and plays for a local brass band.

RYAN HUGHES
Senior Consultant

Since joining Clubfinance, Ryan has worked on operational model builds in a range of sectors including education, healthcare, housing, roads and renewables (solar, wind, biomass, OFTO and EfW). He has also been involved in operational model audits. Ryan's other project experience includes creating a bespoke variation model for one of the largest hospitals in London, FRS102 conversions in both Clubfinance and external models, creating a revenue and costing model for a start-up company and building a template model for the National Grid EFR tender bid. Ryan's projects have spanned various regions including the UK and Ireland, France, Germany, the Netherlands, Norway and Canada. Prior to joining Clubfinance Ryan attended the University of Warwick, graduating with a degree in Mathematics. Outside of work, Ryan has a keen interest in football and has also played hockey for a number of years.

DANIEL MILLS
Senior Consultant

Daniel is a French speaker, who graduated from Southampton University. Since joining Clubfinance he has worked on a variety of renewable work streams including operational and financial close models, due diligence and fund advisory, both in the UK and internationally. In May 2016, Daniel undertook a 3-week secondment to the Paris offices of a large European infrastructure fund, where he helped deliver 18 updated French and German renewable asset models, undergoing refinancing analysis and ensuring a thorough audit trail. He was also the core driver behind a financial model build tailored towards a hospital redevelopment which was successful in obtaining its funding. Other project work includes the preparation of an accounting and financing options paper in order to unlock trapped value and, more recently, developing a financial close template model for the recent RE CfD Electricity Market Reform. In his spare time, Daniel is an all-round sports lover.

PAUL CRANE
Senior Consultant

Since joining Clubfinance, Paul has worked on a variety of projects. These include a number of project valuations, with bridging exercises to show valuation impacts on individual assumption changes, building a large fund model capable of running sensitivities across a large portfolio of models and aggregating cashflows for fund level analysis, bespoke model builds and value enhancement of models to provide maximum return to shareholders. In addition to a number of operational model builds across a variety of sectors in both PPP and renewable markets. Paul joined Clubfinance after graduating from the University of Warwick with a degree in mathematics. Outside of work, Paul has a keen interest in trampolining and can frequently be found training, coaching or competing for Levitation Trampoline Club.

SOPHIE WARRINGTON
Senior Consultant

Since joining Clubfinance, Sophie has worked on operational model builds for healthcare, education, streetlights, rolling stock and renewable energy projects, based in the UK, Germany and the Netherlands. She has also supported the valuation of a large portfolio of European infrastructure asset. Sophie is a member of our internal IT team, a role which has recently seen her implement a significant software update throughout the Clubfinance team. Sophie joined Clubfinance with a degree in Mathematics from the University of Warwick. In her spare time, she enjoys playing football, running and competing in Magic: The Gathering events around Europe.

GEORGE CHRISTOU
Consultant

Since joining Clubfinance, George has worked on operational model builds across sectors such as education, justice and emergency, biomass and waste and networks. He has also been involved in building group models and reporting tools for large multinational companies. George was a key player in the creation of a sophisticated model to calculate penalty deductions based on a set of Big Data. He has assisted in the preparation of a successful bid to establish a CIC, delivering a positive social impact. George is a fluent Greek speaker, who has worked on projects based in the UK, the Netherlands, France and Germany. He graduated from the University of Southampton with a degree in Accounting and Finance and a Masters in International Banking and Financial studies. Outside of work, you’ll find George working out at the gym or preparing meals in the kitchen. George also enjoys keeping up with technological advancements.

SEAN MACKIE
Consultant

Since joining Clubfinance, Sean has worked on operational model builds for healthcare, education, street lighting, student accommodation and renewable energy projects. His other project experience includes an operational model audit of a water sanitation project and template model development for a renewables project approaching financial close. Sean's projects have been based in the UK, France and the Netherlands. He joined Clubfinance with a degree in Accounting and Finance from the University of Southampton. Away from the office Sean enjoys playing rugby and tennis, whilst also actively taking part in long-distance running events.

PETER PLACE
Consultant

Since Peter joined Clubfinance, he has worked on operational model builds for projects relating to A-roads, public housing, and expansions to university sports and accommodation facilities. In the renewables sector, Peter has been involved with numerous projects, including both template and financial close models for the refinancing of solar portfolios. On the other side to model building, Peter has audited a model for the proposed refinancing of a portfolio of European wind farms. He has worked on projects based in the UK, Ireland, France and Africa. Peter joined Clubfinance with a degree in Mathematical Sciences from the University of Bath. Outside of work Peter is a big football fan, and also enjoys music, tennis, watching Formula 1 and playing poker.

DAVID LANG
Consultant

Since joining Clubfinance, David has worked on operational and refinancing model builds in sectors including renewable energy, transport and education. He has also worked on a wide variety of bespoke models, ranging from swap effectiveness testing to dispute resolution, as well as calculating the cost and value for money of public sector termination of PFI contracts and assessing the viability of investment proposals in the agricultural sector. David has model audit experience and has worked on projects based across Europe and North America. Prior to joining Clubfinance, David completed a PhD in Earth Science at the University of Southampton, having previously studied at the University of Oxford. Outside of work he enjoys football, running, reading and travelling.

TOM PERRY
Consultant

Since joining Clubfinance, Tom has worked on operational model builds for healthcare and renewable energy projects; bespoke fund model builds for two large infrastructure funds; model due diligence reviews and a viability model template for solar projects. Tom has also worked on multiple bid tenders, and was a key driver behind Clubfinance's successful bid to get onto the Crown Commercial Service corporate finance framework. His public sector experience includes working on the development of a business case in line with HM Treasury's Green Book appraisal template structure. Tom has worked on projects based in the UK, France, Germany and the Netherlands. Tom joined Clubfinance with a degree in Mathematics from the University of Warwick. Outside of work Tom is a keen long-distance runner, who also enjoys playing football, golf and going to the gym.

IÑAKI LOPERENA
Consultant

Since joining Clubfinance, Iñaki has worked on operational model builds for PFI and NPD projects relating to social housing, education, healthcare and networks. Additionally he has participated in a number of project valuations, including bridging reports to show valuation impacts on individual assumption changes. Iñaki is a native Spanish speaker, who has worked on projects based in the UK and USA. He graduated from the University of La Rioja (Spain) with a degree in Business Administration and completed a Masters in Financial Markets at Madrid's IEB. Away from the office Iñaki enjoys travelling, cinema and hiking in any of the country's National Parks.

ARTHUR GLOWACKI
Consultant

Prior to joining Clubfinance Arthur worked in the finance department of a large, international perfume manufacturer and distributor, preparing management accounts and reports, as well as managing indirect tax submissions for the group's companies. Since joining Clubfinance in 2016, Arthur has worked on various renewable energy models for infrastructure funds as well as operational models for defence, transport and accommodation projects. Arthur takes an active part in the company by being a part of the Model Template and IT teams. Currently studying to become an ICAEW qualified accountant, Arthur joined Clubfinance with a degree in Management and Leadership from The Open University. In his spare time, Arthur is a keen reader with a passion for literature and philosophy; he also maintains an ever-expanding private collection of books on various topics.

DOMINIQUE FLOOD
Consultant

Since joining Clubfinance in 2016, Dominique has worked on operational model builds for healthcare and education projects and refinancing model builds for education and renewable energy projects. She has worked on projects based in the UK and France. Dominique joined Clubfinance after completing degrees in Medical Biochemistry and Mathematics at the University of Manchester. Outside of work she enjoys bouldering and has a keen interest in skydiving.

JOHN ARABE
Consultant

John joined Clubfinance in May 2017. He has since developed his bridge analysis skills, through his work on a bridging exercise for the portfolio of a large infrastructure fund. John has also worked on an operational model build for a UK-based education project. John joined Clubfinance with a degree in Physics from Imperial College London where he developed his analytical and problem solving skills, which he now puts into to practice at Clubfinance. Outside of work, John enjoys ballroom dancing, music and drawing.

PHILLIP GALLACHER
Apprentice Consultant

Phillip has worked on a large variety of PFI projects, covering sectors such as wind, civil services, schools and hospitals, which have been based all over Europe. In particular, his ability to speak fluent German has led to him working on a number of German-based projects. His wide knowledge of bespoke Excel formulas and complex VBA code has allowed him to develop several tools that have greatly reduced the company's administrative burden and improved the detail of our internal management reporting. Phillip also helps to develop and maintain the Clubfinance model template, which ensures that it is kept up to date with the latest legislations and best practice modelling. In his spare time Phillip enjoys many outdoor activities such as football, swimming, travelling and reading.

MATTHEW COLEMAN
Technician

Since joining Clubfinance, Matthew has played a key part in multiple audits for the leisure, healthcare, energy and renewables sectors, including a children’s hospital and a biomass plant. He has constructed operational and refinancing models for a wide array of sectors including transport, defence, leisure, renewables, and healthcare, including replacing the existing model for a distressed road project in Newport and an operational model for two schools in Wolverhampton. Matthew also played a vital role in the valuation of two large international portfolios. He has worked on projects based in the UK, the Netherlands, France and Italy. Matthew joined Clubfinance with a Mathematics degree from the University of Bath. His spare time is divided between strategy games, RPGs, platformers and working out.

LAURA BELL
HR Manager

Laura is the Human Resources Manager providing HR support, advice and guidance to the business. Laura's 12 years' experience in the corporate and voluntary sectors have given her an excellent grounding in all areas of HR including organisational development, reward and recognition, employee relations, resourcing, learning and development, wellbeing and management coaching. Since joining Clubfinance, Laura has established the HR and training function, including creating and delivering a number of training workshops to enhance employee learning and development. Additionally, she has provided valuable support to organisational development and Clubfinance projects. Laura holds a Bsc degree in Psychology and a Post Graduate Diploma in Human Resource Management.

SARAH LUCAS
Administrator

Sarah joined Clubfinance in February 2017 on a part-time basis to support the growing team with all projects and financial related administration. Sarah is responsible for administration in relation to client and project take-on, tender and bid support, as well as financial administration including monitoring debtors and drafting invoices for our project management team. Sarah also provides ad hoc support to the team as and when required. In her spare time Sarah enjoys spending time with her family and keeping fit.

CAREERS

We are an innovative, entrepreneurial company who are known for high quality services and products. Our success is due to our highly talented and motivated work force. Recruitment is focused on two key areas: graduates with an interest in project finance and who wish to complete an accountancy qualification; and qualified, experienced, individuals who can offer their skills to help to grow the company and support the modelling team to deliver.

We welcome speculative CVs for both our graduate programme and for qualified, experienced individuals who wish to work in an exciting, challenging and forward thinking company.

If you would like to speak to us about working at Clubfinance please contact us.

OUR CLIENTS
Alfanar Amber Infrastructure Limited Amberside Energy Armstrong Energy Aviva Investors Bluefield Partners LLP
Dalmore Capital DIF Galliford Try Plc GCP Infrastructure Investments Ltd GE Healthcare HCP - Intelligent Management of Assets
InfraRed Capital Partners John Laing Group plc Oxford Capital The Renewables Infrastructure Group (TRIG) Social Stock Exchange Solarcentury
Vinci UK Developments Limited
CONTACT US
Clubfinance Project Finance Ltd
Directors:
Paul Austin, Philip Rhoden, Neil Rutledge, David Scrivens
Registered Office:
Clubfinance House, 64-66 Queensway, Hemel Hempstead, Hertfordshire, HP2 5HA
Registered in England. Registered Number: 06078852