Strategic Value Partners, a global alternative investment firm, is taking full ownership of Apcoa, Europe's leading parking infrastructure operator with more than 1.8 million parking spaces across 13,000 sites in over 400 cities.
The company has owned a stake in the Germany-headquartered operator since 2014, but has now bought the remaining shares from US firm Centerbridge and other minority shareholders.
Philippe Op de Beeck, CEO of Apcoa, said: 'We thank Centerbridge for their support and are looking forward to our next chapter of growth under the ownership. We see SVP's investment as a strong vote of confidence in Apcoa's strategy and business model. With this backing, we will continue to focus on maximising the value of our clients' assets, developing our digital services, and increasing our push into EV charging and inner-city sustainable mobility.'
With the carparking industry evolving, firms like this are connecting on-street and off-street car parks with owners, partners, customers with their vehicles.
John Brantl, co-head of SVP's European investment team, explained: 'We are excited to partner with the team at Apcoa to unlock significant value, particularly around increasing automation, capitalizing on underutilised space and monetizing EV charging. Through organic growth, operational improvements and investing heavily in innovative technologies, we look forward to helping the Apcoa team take the business to the next level."
