Macquarie Infrastructure Company LLC (MIC)

Posted: Fri May 08, 2009 9:38 am

Macquarie Infrastructure Company LLC (NYSE: MIC) is focused on owning, operating and investing in a diversified group of infrastructure businesses in the United States. These businesses include an airport services business, 50% of the company that owns one of the largest bulk liquid storage terminal businesses in the US, a gas production and distribution business, a district energy business and an airport parking business.

Airport services comprised the majority of the company’s gross profit in 2008. The division consists of 72 fixed base operations (FBOs) on leased land at 68 airports throughout the United States and one heliport in New York City. Services include terminal operations, refueling, de-icing, aircraft parking and hangarage. Macquarie Infrastructure believes the quality of its operations and strong marketing programs provide a competitive advantage in the marketplace.

Because of their nature, Macquarie Infrastructure’s businesses are apt to generate a stable, increasing amount of revenue over time. Currently a substantial portion of that cash is being used to reduce debt owed by Macquarie Infrastructure and its operating companies. Once debt levels have been reduced and the debt markets are functioning properly, the cash flow will once again be used to distribute cash dividends to shareholders.

Recently appointed CEO James Hooke has a range of investment, restructuring, business improvement and asset management experience across the North American infrastructure and private equity sectors. His track record of establishing and growing businesses in management, board director and corporate development roles makes him the perfect candidate to lead Macquarie Infrastructure’s next phase of development as the company strives to restore shareholder value by reducing debt levels, effectively managing expenses and improving operations.