Land Securities Trillum announced that it is to buy Amec’s private finance initiative project management arm today for £163.5m.

Amec Project Investments manages nine PFI projects in the healthcare, education and transport, among them Cumberland Infirmary and the South Lanarkshire Schools initiative. Trillium will take over these projects, as well as the Amec Project Investments team.

Trillium chief executive Ian Ellis said: ‘Project Investments offers an excellent fit with the existing business and reinforces our presence in the community infrastructure market.’

The purchase will be completed by 31 October, subject to the consent of the public authorities and lenders involved with the projects Amec is managing.

Last week, Birmingham City Council named Trillium on the shortlist for the £1bn Birmingham Building Schools for the Future Project.

In February Trillium bought Secondary Public Infrastructure Fund, a portfolio of specialist public private partnership schemes, for £927m.