Arjun-backed ONroute completes debt refinancing and hires new CEO

Arjun is pleased to announce that ONroute, the exclusive provider of highway rest services across Ontario, Canada, has completed the successful refinancing of its existing senior debt facilities, as well as appointed a new CEO.

ONroute, which has been majority-controlled by Arjun since 2019, has secured a $250 million bond with improved overall debt pricing, alongside a revolving credit facility to support a number of identified commercial growth initiatives – including further investment in its drive thru offering and expansion of its retail offering.  The business plans to introduce these from 2026 onwards, with the aim of helping further improve the customer offer and guest experience.

The refinancing follows consecutive record trading performance for ONroute in 2024 and 2025. The business has been on a positive growth path since the COVID pandemic in 2020, when highway traffic volumes and subsequent levels of customers turning into the ONroute sites were severely impacted. With traffic volumes returning to normal levels in the years post COVID, Arjun took the decision to simultaneously invest in a number of commercial development opportunities, not only futureproofing pandemic resilience but also improving the overall customer offering and speed of service. This included the introduction of new brand partners, the construction of new “drive-thru” units and the introduction of digital customer ordering screens. 

At the same time, ONroute also funded the construction of digital billboards outside each service station, offering state-of-the-art commercial advertising opportunities across two of North America’s busiest highway networks.        

As part of the ambitious growth plans for the business, ONroute has also appointed Andy Webb as the new CEO of the business. He brings extensive food and retail service experience in the travel sector, having most recently served as Chief Commercial Officer at SSP UK & Ireland, a major operator of food, beverage, and retail outlets in travel locations such as airports, train stations, and motorways. His significant sector experience will help further drive the business’s organic and incremental commercial growth opportunities   

Throughout its support of ONroute over the past six years, Arjun has drawn on its wider successful experience in the motorway service area (MSA) sector, most notably through its continued investment in Welcome Break, the UK’s second largest MSA operator.

Adam Delaney, Managing Director at Arjun Infrastructure Partners, commented: “The recent appointment of the new CEO and successful refinancing are a testament to all of the hard work and investment made into the business over the last few years post COVID; supporting co

ntinued innovation in ONroute’s offering to drive further growth and overall improvement in guest experience.  Furthermore, the developments highlight the significant continued opportunity we see for the business and the wider MSA sector.  The increased debt facilities and continued support of a number of our lenders through the refinancing reflects this shared view.  Working together with the new CEO, we look forward to building on this foundation and further growing ONroute’s leading services.”

Andy Webb, CEO at ONroute, added: “I am incredibly privileged to join ONroute at such an exciting time. ONroute plays a vital role in connecting people across Ontario, and I’m looking forward to building on the company’s strong foundations working with the Arjun team, our brand partners and the Province to be the best part of our customer’s journey.”