Q-Park N.V. today announced that Interogo Holding, via its infrastructure investment fund Inter Infrastructure Capital, has acquired a 12.25% stake in Q-Park from the company's existing shareholders.
Q-Park N.V. (“Q-Park”) today announced that Interogo Holding, via its infrastructure investment fund Inter Infrastructure Capital (“IIC”), has acquired a 12.25% stake in Q-Park from the company's existing shareholders, including KKR, a leading global investment firm, which will remain the majority shareholder. KKR initially invested in Q-Park in 2017 through its infrastructure investment fund KKR Global Infrastructure Investors II, to support the company’s digital transformation and the expansion of its EV charging infrastructure. Since KKR’s investment, Q-Park has adopted to evolving urban mobility needs, reinforcing its position as a frontrunner in sustainable infrastructure.
Q-Park is a leading European parking infrastructure owner and operator, with a large and diversified portfolio of ~4,300 owned, leased and managed parking facilities in The Netherlands, France, the United Kingdom, Germany, Belgium, Denmark and Ireland. Q-Park focuses on off-street, strategic prime locations and works together with municipalities and landlords to implement sustainable urban mobility plans, leveraging its industry-leading digital capabilities, strategic growth framework and its sizeable and rapidly expanding EV charging offering. Q-Park reported Underlying EBITDA of €231 million in 2023.
In recent years, Q-Park has successfully navigated industry changes, further strengthening its role in providing sustainable mobility solutions and seamless parking services. With the support from its existing shareholders, the company has significantly expanded its EV charging infrastructure, with 5,600+ EV chargers installed to date and over 10,000 expected by 2027. It further initiated innovative projects including installing solar panels and batteries for producing, storing and providing renewable energy and enabling future vehicle-to-grid solutions. And with its proprietary Parking as a Smart Service (PaSS) platform, Q-Park enables digital access and payment for its customers and its partners’ customers.
Frank De Moor, CEO of Q-Park, said: “We are very excited to welcome Interogo Holding as a new long-term investor. As Q-Park continues to benefit from structural mega-trends as an energy transition enabler for urban mobility, Interogo Holding’s commitment to sustainability and long-term value creation provides us with the ideal partner to support our strategy going forward.”
Constantin Dogos-Docovitch, Head of Infrastructure at Interogo Holding, said: “Q-Park is a high-quality parking infrastructure platform with a strong-track record of growth and operational excellence. We are excited about the positive role it plays in urban mobility and energy transition. Frank and his team have achieved excellent results, demonstrating the resilience and long-term growth potential of the business. We are looking forward to partnering with KKR and other shareholders of Q-Park.”
Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: "We are delighted to welcome Interogo Holding as an investor alongside us in Q-Park. Under Frank’s leadership, Q-Park reached record high performance in 2023 and is well-positioned to benefit from attractive long-term growth trends. We are proud of what we have been able to achieve together over the past 7 years and look forward to continuing to support the company in realising its strategy and growth plans, including the accelerated growth of its digital and EV charging offerings.”
KKR established its Global Infrastructure business in 2008 and has since grown to one of the largest infrastructure investors globally with a team of more than 125 dedicated investment professionals and other value creation executives. The firm currently oversees approximately US$72 billion in infrastructure assets globally as of 30th June 2024 and has made over 90 infrastructure investments across a range of sub-sectors and geographies.
Morgan Stanley & Co. International plc and Clifford Chance acted as advisers to the shareholders of Q-Park. IIC was advised by DC Advisory and Kirkland & Ellis.)
About Q-Park
Q-Park is a leading off-street parking infrastructure owner and operator with well-managed commercial parking facilities across seven western European countries. We operate off-street parking spaces we own, have under concession or with long-term lease contracts from public and private landlords. We focus on off-street purpose-built parking facilities at strategic locations. We operate more than 3,600 parking facilities comprising over 706,000 parking spaces in the Netherlands, Germany, France, Belgium, United Kingdom, Ireland and Denmark. Based on publicly available industry data for our competitors, we estimate that we are a top three player, based on the estimated off-street revenues, in all the countries in which we operate. Q-Park also has numerous mobility hubs which provide access to a variety of mobility solutions. We house and support a range of activities from last mile logistics, electric vehicle charging, micromobility and car sharing services which help support urban accessibility, sustainability and liveability.
About Interogo Holding and IH Infrastructure Advisors
IH Infrastructure Advisors is the infrastructure investment team of Interogo Holding. IH Infrastructure Advisors targets direct investments, mainly in Europe, across the infrastructure sector. The strategy is to acquire holdings in infrastructure companies that provide essential services to society, are recession resilient and offer downside protection through stable and predictable cash flows.
Interogo Holding’s infrastructure investments are made by its investment fund Inter Infrastructure Capital, managed by Inter Fund Management, and advised by IH Infrastructure Advisors.
Interogo Holding is a foundation-owned investment group. Investment strategies include private and long-term equity, real estate, infrastructure, and liquid assets. Please read more about Interogo Holding at www.interogoholding.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
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