CVC DIF has sold American Roads to John Laing Group, marking another successful exit for the mid-market infrastructure strategy. The transaction, pending regulatory approvals including US antitrust clearance, continues CVC DIF's disciplined approach to portfolio rotation and capital returns.

American Roads operates four tolled transportation assets in the United States, including three bridges in Alabama with perpetual operating rights and the concession lease for the Detroit-Windsor Tunnel. These assets serve approximately seven million trips annually. CVC DIF acquired the platform in 2018 through its DIF Infrastructure V fund, implementing a value creation plan focused on operational optimization and strategic capital structuring.

The ownership period included navigating the Covid-19 pandemic, during which the firm maintained service availability while positioning assets for recovery. Andrew Freeman, Partner and Head of Divestments at CVC DIF, emphasized the firm's active ownership approach, noting the development of a resilient platform through close partnership with management and thoughtful capital structuring.