Ardian has acquired the Ohio State University parking system from Australian investment company QIC, in a deal that marks the France-based investment firm’s debut transportation and public-private-partnership (PPP) investment in the US.
Ardian, investing via its Ardian Americas Infrastructure Fund V, said it has bought CampusParc, the concessionaire that manages, operates, and maintains the parking facilities at the university’s flagship campus in Columbus, Ohio.
QIC acquired the parking concession in 2012 and formed CampusParc with the university under a 50-year concession. CampusParc is the first and largest university parking concession in the US with over 38,000 total parking spaces.
Ardian said it will support CampusParc in its overall operations to “deliver essential parking solutions and maintenance of assets that drive customer satisfaction”.
Stefano Mion, co-head of infrastructure Americas at Ardian, said: “CampusParc is Ardian’s first transportation investment in the US, and it’s an ideal fit within the broader strategy of our Americas fund.
“We are particularly excited to work with such a strong management team and support its commitment to the growing community. We look forward to assisting CampusParc in the years ahead and working closely with The Ohio State University, a premier academic institution.”
Leonarda Orani, infrastructure managing director at Ardian, said: “This transaction marks an exciting milestone for our essential infrastructure strategy in the Americas. We admire CampusParc’s innovative solutions and customer-centric approach, and together, we look forward to leveraging our collective strengths to enhance the customer experience.”
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