Eurazeo agrees to acquire APCOA, the leading pan-European parking operator, from Investcorp for 885 million

APCOA has operations in 13 countries, primarily Germany, Great Britain and Scandinavia. The group manages more than 3,300 car parks providing some 725,000 car parking spaces, and employs 2,900 staff. It manages town centre car parks as well as shopping centre, airport and hospital parking. In 2006 APCOA had sales of 489 million, up seven per cent on 2005.

Patrick Sayer, chairman of the Eurazeo executive board, said: We are delighted to have reached an agreement to acquire APCOA, which demonstrates our ability to carry out large transactions outside France. This investment confirms our interest in the German market, where APCOA is the leading operator.

Xavier Marin, member of the Eurazeo executive board added: APCOA enjoys excellent operational performance. It benefits from major advantages which have allowed it to become the leading pan-European parking operator based on the commitment of its people, expertise, brand recognition and quality locations. We will be working with the management to pursue this growth strategy and to further the groups development in areas of Europe where it is not yet present.

Thilo Sautter, head of the German private equity practice at Investcorp:We are delighted with the sale of APCOA to Eurazeo, after having led the successful transformation of APCOA to the leading European car park operator. Eurazeo is an excellent shareholder for APCOA and will provide APCOA with the necessary resources to continue the international expansion and support the growth strategy initiated under Investcorps stewardship.

Peter Fischer, CEO of APCOA: Over the past three years we have, together with Investcorp, developed and implemented a successful strategy to become the leading
European car park operator. This is just the start. With the support, long term orientation and strong financial backing of Eurazeo we look forward to continuing the successful strategy implemented since 2004 and to realising the full potential of international growth opportunities for APCOA. Our portfolio is well suited for selective bolt-on acquisitions and our network will benefit from expansion into new markets.

With more than 6 billion in diversified assets and a market capitalisation of 5.8 billion, Eurazeo is one of the leading listed European investment companies.
Eurazeo is a majority or key shareholder in companies such as Europcar, Rexel, B&B Hotels and ANF. Eurazeo also holds stakes in Danone, Veolia and Air Liquide.

Investcorp is a leading provider and manager of alternative investment products. It has offices in New York, London and Bahrain and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP). Investcorp has five lines of business: private equity, hedge funds, real estate, venture capital and Gulf growth capital. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography. It currently has over $10bn in invested assets under management.