Alantra advised Q-Park on the sale of 100% of the company to KKR Infrastructure for c. €3bn
Alantra has advised the Supervisory and Management Board of Q-Park on the sale of 100% of the outstanding share capital of Q-Park to KKR Infrastructure. The offer had been submitted to all Q-Park shareholders, mainly institutional investors, as pension funds and insurance companies, for their acceptance. The transaction represents an enterprise value of c. €2,950 million, or a multiple of EBITDA 2016 of over 15x.
Q-Park is a leading European parking services provider, with 871,449 parking spaces in 6,343 secure, clean, and well-managed parking facilities at specific locations: in inner-city areas, at public transport interchanges and hospitals, across ten Northwest European countries. Its net revenue in 2016 amounted to €825 million and an EBITDA of €194.9 million.
KKR Infrastructure is a leading, global investment firm with a wide expertise in the infrastructure, mobility and real estate sector that manages investments across multiple asset classes. As of March 31st 2017, KKR has $138 billion of assets under management.
The offer is subject to acceptance by existing Q-Park shareholders and to customary regulatory approvals.