A change in the governance of Parkeon to prepare for faster growth.

Parkeon, one of the world leaders in parking management and ticketing solutions for mass transport, has positively restated its development potential and now has the resources to fulfil its ambitions.

Parkeon has successfully renegotiated the bank debt it took on at the time of its buyout in 2007. With a sounder financial position, the group is confident in its capacity to develop and succeed.

"The operational activity of Parkeon was never a problem", explains Bertrand Barthelemy, President of Parkeon. "we made debt draw-down a priority in 2012 so that we could anticipate the future and secure the long-term investment capacity of Parkeon, and continue to invest 8% of our income in R&D and make commercial investments in emerging countries".

After negotiations with financial institutions, the agreement signed on 12 April 2013 confirms a reduction of about two-thirds of the overall financial debt and an increase in the holding of Intermediate Capital Group (ICG), which has become the majority shareholder with 85% of the shares of Parkeon.

"With a financial position that is now very strong and operations in high-growth countries, we can continue to grow, innovate and offer our customers more than just products, comprehensive support for their urban mobility requirements" stresses Bertrand Barthelemy.

Today, 80% of the turnover of Parkeon is achieved through export, particularly in emerging countries. Recent project successes include New York, Las Vegas, The Hague, Mexico City, Helsinki, Warsaw, Jeddah, Yaoundé, Lyon and Bordeaux; these demonstrate the commitment and skills of our staff and confirm the growth potential of Parkeon.

PARKEON press contacts:

Stéphane Roques – sroques@parkeon.com
Marine Magder – +33 (0)1 45 49 29 79 – marine.magder@meanings.fr

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