
Astorg's Parkeon to bolt on Cale
French parking and ticketing services provider Parkeon, backed by Astorg, has started talks to acquire Swedish competitor Cale in 2018.
For the year ending in June 2017, Parkeon turned in €220m in revenues. The combined group targets double-digit revenue growth for the upcoming 12 months, according to Parkeon.
Bertrand Barthelemy would remain group CEO and Stéphane Roques would head up the new Smart City business arising from the combination with Cale. Anton Kaya, currently CEO of Cale, would become COO of the Smart City Business unit and Owen Griffith would continue to oversee Smart Transport.
Astorg Partners acquired a majority stake in Parkeon for an estimated €450m in an SBO from ICG and European Capital in 2016. The deal, valued at 11x EBITDA, was the second investment made with Ardian's buyout fund Astorg VI.
Parkeon was founded in 1968; it is headquartered in Paris and offers parking management and public transport ticketing services in nine countries.
The enlarged group would have around 1,300 employees, largely based in France, the UK, Sweden and North America. New sales efforts would be targeted on emerging markets in Asia, the Middle East, Africa and South America.
Company
Case was founded in 1955 in Gävle. It evolved from a manufacturer of single-space meters into a parking operator with a world presence. For the year ending in June 2017, Cale's turnover stood at €70m.
People
Parkeon – Bertrand Barthélemy (CEO).
Cale – Anton Kaya (CEO).
Astorg Partners – François de Mitry, Stéphane Epin (partners).
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