Macquarie Asset Management, via Macquarie European Infrastructure Fund 7, has reached an agreement to acquire a significant minority stake in Best in Parking AG ("Best in Parking").
Best in Parking is a leading developer, owner, and operator of parking and mobility infrastructure. Headquartered in Vienna, the company is active across Austria, Italy, Croatia, Switzerland, Slovakia, Slovenia and other markets in the Balkan region. Best in Parking operates approximately 87,000 parking spaces across 198 prime locations in 40 cities and offers technology, traffic management, parking access control and smart city solutions.
Best in Parking is focused on meeting the evolving needs of its customers, investing in the development of its digital solutions alongside the roll out of electric vehicle (EV) charging infrastructure. Macquarie Asset Management intends to support Best in Parking as it rapidly aims to scale its EV charging access points, from around 470 today to 1,000 by 2025. It will also support Best in Parking's continued growth through the identification of new sites across new and existing markets while driving its continued transformation from a pure-play parking operator to an enabler of smart cities.
Gordon Parsons, a Senior Managing Director at Macquarie Asset Management, commented: "The adoption of e-mobility is a critical element of the low-carbon transition as communities seek to reduce air pollution and carbon emissions from the transport sector to meet their net zero goals. Best in Parking's diverse portfolio in prime locations across the region, digital applications, and impressive ambitions in EV charging make it well positioned to drive this change. We are delighted to enter into this new partnership with Best in Parking as the company continues to adapt to the evolving needs of the communities it serves."
Johann Breiteneder, Chief Executive Officer at Best in Parking, commented: "Over the past two decades, our business has undergone tremendous growth as we explored and executed on expansion opportunities in existing and new markets - in parking, traffic and smart city technology solutions - to improve quality of life in urban areas, in particular. As we move to the next phase of our journey, Macquarie's investment combined with its expertise in infrastructure and e-mobility will bring significant added value. We look forward to our cooperation in the next phase of the company's evolution in parking, but also as a key enabler of smart and climate active cities."
Macquarie Asset Management is a leading investor in parking infrastructure and e-mobility solutions. The asset manager currently oversees investments in Telpark, a leading car park operator in Spain and Portugal, and is supporting the rollout of electric vehicle charging infrastructure in Europe through its investments in UK motorway service area operator Roadchef, EV infrastructure business Fleete, and partnership in the region with Heliox.
The majority stake in Best in Parking will be retained by Breiteneder Immobilien Parking AG, which is in turn owned by the Breiteneder family and its private foundations. The transaction is expected to close by Q3 2023. The terms of the transaction have not been disclosed.
