We are pleased to announce that Astorg communicated on 15th April 2016 its acquisition of a majority stake in Parkeon group, in partnership with Parkeon’s management team.
Astorg has an investment track record of 17 years as an independent fund management partnership. Since 1998, the organisation has concluded 33 transactions. The Astorg portfolio companies all share the same feature to be leader on their market, very specialised and fast-growing. Beyond capital investments, Astorg works alongside businesses in financing their growth and their innovations. Astorg is one of the best European investors thanks to its performances.
The management team continues to be an important shareholder of the Group and will maintain the same strategy it has been following since 2011.
This agreement opens an exciting new chapter for the company. It will allow us to accelerate and reinforce our strategy of innovation and internationalization to serve the increasing needs of municipalities all over the world to deal with congestion and pollution. With Astorg’s strong track record in developing the companies it invests in, we are confident to take the business to a new level, while always remaining attentive to our clients.
Parkeon is a key player in the sector of urban mobility. By providing a single offer encompassing parking management solutions and ticketing solutions for public transport, Parkeon is now present in 60 countries and is accelerating its growth in emerging markets such as Eastern Europe, Asia, Africa and Latin America. Parkeon’s capacity for continuous innovation is demonstrated every day. Systems and equipment provided by Parkeon facilitate management and mobility in more than 4000 cities. Parkeon employs over 1,000 employees worldwide and achieved revenues of US$240 million in 2014.