Infra Park announces, through its subsidiary Indigo Infra, the acquisition of 50% of the capital of the Colombian company City Parking, the largest parking operator in Colombia managed by the oldest private equity firm, Tribeca Management Company, and signing of an agreement to acquire 50% of the Panamanian company City Parking Panama to its founders. Already present in Brazil since 2013, Infra Park becomes the partner of the leader in parking in Columbia and Panama and intends to create a second regional platform to develop its business in Central and South America.
City Parking, a leading parking operator in Colombia and Panama, was founded nineteen years ago in Bogota and expanded its activities ten years ago to Panama. A city often compared to Singapore because of its fast urban growth, Panama City plays an important strategic role for urban mobility operators.
In Colombia, City Parking has 720 employees, is located in 6 cities, with 110 car parks representing nearly 20,000 parking spaces, including 2,000 motorcycle spaces and 1,200 bicycle spaces. In Panama, City Parking Panama is the current market leader, with 30 car parks offering nearly 3,000 parking spaces.
Year after year, and partly resulting from Tribeca’s value creation process and vision, City Parking has proven itself to be an innovative parking operator with an understanding of how to adapt itself perfectly to the new stakes in individual mobility. City Parking also manages four car parks in Bogota, using a contractual model similar to the concession agreements that are currently used most notably in France.
“With our new partnership with Infra Park, the leading parking company in the world, City Parking will be able to give better global solutions to our multimodal customers, moving in the direction that our parking network becomes true mobility hubs, and our service platform more close to the individual needs” says Eduardo Bayon, CEO of City Parking.
Serge Clémente, President of Infra Park: “This operation allows us to follow our strategy that consists of consolidating our market position in the developed countries in Europe and continuing our development at an international level through three platforms which are North America, Central and South America and South-west Asia. As far as Central and South America are concerned, Infra Park is already implanted in Brazil since 2013 through a partnership with Moving. These two new acquisitions are part of the group strategy to become the main player in Central and South America. We will bring to our partners and clients, both in Columbia and Panama, the best expertise in the parking industry and individual mobility, with the ambition to continue our growth around these regional platforms."
About Infra Park
Infra Park S.A.S. (previously named Infra Foch S.A.S.) holds about 100% of Indigo Infra S.A. (previously named VINCI Park S.A.) and 100% of Infra Park Digital S.A.S. Indigo Infra S.A.S. is a key global player in car parking and urban mobility, which manages 1.9 million parking spaces in 14 different countries. In 2014, its revenues and its EBITDA amounted to 733 million euros and 215 million euros respectively (Global Proportionate figures, pre IFRS 11). Infra Park Digital is the digital arm of the Group. Its goal is to become a world leading provider of digital solutions for individual mobility, oriented towards end consumers as well as cities and operators.
Infra Park S.A.S. is indirectly held at almost 37% by investment funds managed by ARDIAN, almost 37% by Crédit Agricole Assurances, almost 25% by VINCI Concessions (VINCI group), and the remainder by the Group’s management.