Two of the world’s biggest parking companies have recently hung up the FOR Sale sign.
Dutch Giant QPark have just put pen to paper in a deal with KKR a leading global investment firm for KKR to acquire 100% of the shares in QPark. KKR manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. Q Park operates around 870,000 off-street spaces in ten European countries, with an annual revenue of around $1bn.
At the same time Iberian giants EMPARK, which also operates over half a million spaces on and off street across several European Countries is seeking interest from buyers with around I billion Euros and change for 100% of the equity. One of the features of the EMPAR portfolio is long-term nature of their business with an average contract term of thirty years in a market where contracts are often for less than ten years.