Funds managed by Strategic Value Partners (SVP), a global alternative investment firm with more than $18 billion of assets under management, have agreed to acquire APCOA Parking, a European parking infrastructure operator.
APCOA, which provides car park management services across Europe, operates more than 1.8 million parking spaces across 13,000 sites in more than 400 cities. With some €900 million ($955 million) in annual revenues, APCOA is a trusted partner for private and public real estate owners, providing outsourced services for parking centers, electric vehicle charging stations and urban hubs focused on sustainable mobility and logistics solutions for smart cities.
SVP-managed funds acquired a minority stake in APCOA in 2014. As part of this transaction, the funds will acquire shares from current majority shareholder Centerbridge and other minority shareholders for an undisclosed amount.
The transaction is expected to close in the next three months.