Vitruvian acquires majority stake in EasyPark Group

The private equity firm wholly acquired EasyPark from existing investors.

Majority investor Verdane Capital Partners sold its 61% stake to Vitruvian, Verdane partner Hendrik Aspen told unquote".

The transaction ended a five-year holding period for Verdane, which retained the option for future co-investment. A re-investment in the company under the new ownership structure would be deployed from a special co-investment vehicle, Aspen said.

Previous funding
Verdane acquired a majority stake in EasyPark in February 2012. The investment was made from Verdane Capital VII, which closed on SEK 1.5bn in 2010. Existing shareholders, including Ledstiernan, Marinvest and the management team, remained invested.

Company
Headquartered in Stockholm, EasyPark was established through a number of mergers and acquisitions starting in 1999. The company allows motorists to pay for parking spaces by a telephone call, text message, or smartphone application. It operates in 700 cities throughout the Nordic region and Germany.

People
Vitruvian Partners – Jussi Wuoristo (partner).
Verdane Capital Partners – Henrik Aspén (partner).
EasyPark Group – Johan Birgersson (CEO).

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• Topics
• Buyouts
• Nordics
• Consumer
• Sweden
• Verdane Capital Partners
• Vitruvian Partners