Strategic Value Partners to acquire APCOA Parking Holdings
STUTTGART, Germany and GREENWICH, Conn., Oct. 23, 2023 — APCOA Parking Holdings (“APCOA”) and Strategic Value Partners, LLC and its affiliates (together, “SVP”), a global alternative investment firm with over $18 billion of assets under management, today announced that SVP-managed funds have entered into an agreement to acquire 100% of APCOA, Europe’s leading parking infrastructure operator. The transaction is expected to close in the next three months, subject to receipt of required regulatory approvals as well as other customary closing conditions.
APCOA provides car park management services across Europe and operates more than 1.8 million parking spaces across 13,000 sites in over 400 cities. With approximately €900 million in annual revenues, APCOA is a trusted partner for private and public real estate owners, providing outsourced services for parking centres, electric vehicle charging stations and urban hubs focused on sustainable mobility and logistics solutions for smart cities.
Funds managed by SVP have been a minority shareholder in APCOA since 2014. As part of this acquisition, SVP funds will acquire shares from current majority shareholder Centerbridge and other minority shareholders.
Philippe Op de Beeck, CEO of APCOA, said: “We thank Centerbridge for their support and are looking forward to our next chapter of growth under the ownership of SVP. We see SVP’s investment as a strong vote of confidence in APCOA’s strategy and business model, the strength of our client relationships and the quality of the management team and broader employee base. With this backing, we will continue to focus on maximising the value of our clients’ assets, developing our digital services, and increasing our push into EV charging and inner-city sustainable mobility.”
John Brantl, Co-Head of SVP’s European Investment Team said: “We are excited to partner with the team at APCOA to unlock significant value, particularly around increasing automation, capitalizing on underutilised space and monetizing EV charging. Through organic growth, operational improvements and investing heavily in innovative technologies, we look forward to helping the APCOA team take the business to the next level.”
APCOA is Europe’s leading parking operator with more than 50 years of industry expertise. With its 5,000 employees, the Group manages more than 1.8 million individual parking spaces at 13,000 locations in 13 European countries. The company is active in the areas of parking, charging, technologies and urban solutions.
Via its open digital platform, APCOA FLOW, the company connects on-street and off-street car parks with owners, partners, customers and their vehicles. Based on this technology, APCOA is transforming its car parks into urban hubs, creating the physical and digital infrastructure for mobility, logistics, EV charging and a wide range of innovative services that enable a more convenient mobility experience.
The environment also benefits: With its digital services and intelligent Traffic Management System, the company actively contributes to the reduction of emissions in cities by decreasing the volume of logistics traffic and vehicles searching for parking. By connecting parking, mobility, and proximity services for urban living, APCOA is positioned to become an integral part of the digital and physical Smart City ecosystem. Learn more at www.apcoa.com and www.urban-hubs.com.
SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages over $18 billion in assets under management, and since inception, has invested more than $45 billion of capital, including nearly $18 billion in Europe. The firm, established by Victor Khosla in 2001, has approximately 200 employees, including approximately 90 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.SVPGlobal.com.
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Todd Fogarty, Richard Goldman
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