Global investment firm Strategic Value Partners is taking full ownership of Apcoa Parking Holdings, Europe's leading parking infrastructure operator, in which it held a minority stake since 2014.
The deal is expected to close in the next three months, subject to regulatory approvals.
As part of this acquisition, SVP will acquire shares from current majority shareholder Centerbridge and other minority shareholders.
SVP believes that Apcoa is well-positioned to benefit from the growing demand for sustainable mobility solutions in Europe. The company plans to invest in Apcoa's technology and infrastructure to help the company continue to grow and innovate.
Philippe Op de Beeck, CEO of Apcoa, said: ‘We see SVP's investment as a strong vote of confidence in Apcoa's strategy and business model, the strength of our client relationships and the quality of the management team and broader employee base. 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.’
John Brantl, co-head of SVP's European Investment Team, added: ‘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."
Apcoa operates more than 1.8 million parking spaces across 13,000 sites in over 400 cities across 13 European countries and achieves annual revenues of around €900 mln.
The operator provides outsourced services for parking centers, electric vehicle charging stations, and urban hubs focused on sustainable mobility and logistics solutions for smart cities.
