PFI specialist Laing has built up an £87m war chest for PFI investments and acquisitions.
This has been built up from the sales of subsidiaries and from a final settlement on the sale of Laing Homes, which took place in 2002. Laing made the announcement about its net cash position in a trading statement on Tuesday.

Laing finance director Adrian Ewer said: "The money is earmarked for the growth of PFI, in developing new bids. We would also never say never to an acquisition."

The company also announced that special purpose vehicles in which it holds stakes have reached financial close on two PFI schemes: the £24m Wakefield Street lighting scheme in Yorkshire and the first tranche of the Sandwell LIFT health scheme in the West Midlands, also worth £24m.

Laing special purpose vehicles have also reached commercial agreement, with financial completion imminent on the £35m Sirhowy Way road project for Caerphilly council in Wales and a £35m hospital project for Newham Healthcare NHS Trust.

When financial close on these projects is reached, Laing will have a portfolio of 36 schemes.

The money is earmarked for PFI growth and new bids. We would never say never to an acquisition

Adrian Ewer, finance director, Laing

In the second half of last year Laing was granted preferred bidder status on nine projects. It is in exclusive negotiations on 17 schemes in total.

Laing is shortlisted on a further 12 projects, with an estimated combined capital value of £1.69bn.