US private equity firm KKR is acquiring European car park provider Q-Park for over €2 bn, according to media reports.
News agency Reuters broke the news that KKR had emerged ahead of four others parties in a bidding war for Q-Park, which is based in the Dutch city of Maastricht.
Reuters put the winning bid at around €2 bn. Later Dutch media outlets put the price as high as €2.9 bn. Australian investor Macquarie reportedly came a close second in the bidding process.
Q-Park was put up for sale by its owners, mostly Dutch-based institutions.
The company operates 870,000 parking spaces in 10 European countries, and is the largest car park group in the Benelux. Q-Park employs 2,500 people and posted earnings of €85 mln on turnover of €825 mln in 2016.
