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Astorg to acquire Parkeon from ICG and European Capital

15 April 2016

Astorg today announces the acquisition of Parkeon, ("the Company"), the global leader in urban mobility industry, payment solutions and public transport ticketing solutions. Financial terms of the deal have not been disclosed.  

Headquartered in Paris and employing 900 people mainly in France and the UK, Parkeon had a sales turnover of 225 million euros in 2015, serving more than 4000 municipalities over the world. In its smart city division, Parkeon operates across the whole value chain of the parking payment sector, from the design and sale of parking meters, and their recurring maintenance and upgrade, to the management of payment processing and solutions for infrastructure management. On the transport division, Parkeon manufactures ticketing equipment, validation terminals and associated software systems for public transport (railways, metro, and bus).

Bertrand Barthelemy, CEO of Parkeon said: "This deal opens an exciting new chapter for the company. It will allow us to accelerate and reinforce our strategy of innovation and internationalization to serve 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, while respecting their culture and social vision, we are confident to take the business to a new level while keeping our strong anchor on the national territory."

Francois de Mitry, Partner of Astorg said: "Parkeon, as a global leader in its market, is well positioned to capture future opportunities in the industry with its strong focus on innovation and technology. The management team successfully implemented the transition from a hardware company to a technology company providing municipalities with turnkey services as management of payment processing and solutions for infrastructure management. We are honored to partner with its brilliant management team and we will actively support Parkeon's expansion." 

Hadj Djemai of ICG said: "ICG is proud to have supported Parkeon and its management team since 2007, accompanying the Group throughout its development from a hardware company to a truly global and digital player, providing daily value-added services and solutions to its clients' needs. ICG now leaves the company in very sound shape and wishes everyone at Parkeon and Astorg the best of luck for the future of the Group".

Parties involved:

Astorg:

  • Astorg: Francois de Mitry, Stephane Epin, Thomas Carbonel, Benjamin Dierickx, Emmanuelle Berdugo;
  • Financial Advisor: Rothschild (Laurent Baril), D&A (Jean-Marc Dayan);
  • Legal advisor: Ayache Salama (Olivier Tordjman, Gwenaelle de Kerviler);
  • Due Diligence advisors: KPMG (Financial and tax Due diligence), ADL (strategic due diligence).

ICG:

  • ICG: Hadj Djemai, Paul Barry, Nicolas Antraigue;
  • Financial advisor: Credit Suisse International;
  • Legal advisor: Ashurst (Guy Benda, Laurent Mabilat);
  • Due diligence advisors: KPMG (Florent Steck), BCG (Jerome Herve).

European Capital: Etienne Haubold, Guillaume Claire

About PARKEON

Parkeon is a major player in the urban mobility industry and supplies a wide and unique range of parking management solutions and public transport ticketing solutions. Visit http://www.parkeon.com for more information.

About ASTORG

Astorg is an independent private equity fund management company, specializing in European mid-market buyouts, with total funds under management of over €4 billion. Astorg seeks to partner with successful and entrepreneurial management teams, to acquire businesses - very often family-owned - with attractive growth prospects, which Astorg supports through the provision of experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Although a multi-sector investor, Astorg has developed solid industry expertise in healthcare, business-to-business professional services and niche industrial companies selling differentiated, often technology-driven, products. Astorg is headquartered in Luxembourg with advisory offices in Paris and London, plus Senior Advisors based in Holland, Switzerland and Germany. Visit www.astorg.com for more information.

About ICG

ICG is a specialist asset manager with 27 years history in private debt, credit and equity. Our objective is to generate income and consistently high returns whilst protecting against investment downside. We seek to achieve this through our expertise in investing across the capital structure. We combine flexible capital solutions, local access and insight with an entrepreneurial approach to give us a competitive edge in our markets. We are committed to innovation and pioneering new strategies where we can deliver value to our investors. ICG has €21.2bn of assets under management globally (as at 31 December, 2015), we are listed on the London Stock Exchange (ticker symbol: ICP), and regulated in the UK by the Financial Conduct Authority (FCA). Intermediate Capital Group, Inc. is a wholly-owned subsidiary of ICG and is registered as an investment adviser under the U.S. Investment Advisers Act of 1940. Further information is available at: www.icgam.com. Past performance is no guarantee of future results. 

Press Contact

ASTORG | François de Mitry +33 1 53 05 40 48 | fdemitry@astorg.com

Publicis Consultants | Robert Amady +33 1 44 82 46 31 | robert.amady@consultants.publicis.fr

PARKEON

Havas | Jean-Baptiste Froville +33 1 58 47 95 39 | jean-baptiste.froville@havasww.com

 

 

 
© Astorg 2018. Registered in France No. 419 838 545. Astorg Partners is a fund management company approved and regulated by the AMF in France (approval number GP 98-36). Astorg Partners is a registered trademark. Astorg Asset Management is a fund management company approved and regulated by the CSSF in Luxembourg (approval number N. A00001441). Astorg Asset Management is a registered trade mark.