EQT sells Spanish parking operator Parkia

Prior to the sale, EQT owned a 66.8% stake in the business, while Spanish insurance group Mutua Madrileña owned a 33.2% stake. Financial figures of the deal remain undisclosed.

As part of the deal, First State Investments, the asset management division of Commonwealth Bank of Australia, acquires a controlling stake in the business.

Previous funding
EQT acquired a majority stake in the company in May 2011 for €180m. The carve-out process saw the GP acquiring its stake from listed construction and infrastructure company Acciona.

Company
Founded in 1977 and headquartered in Albacete, Parkia operates 58 off-street car parks across Spain and Andorra. Currently, the business employs a staff of 140 and posted €33m in revenues in the financial year 2015.

People
EQT Partners – Matthias Fackler (partner).
Mutua Madrileña – Emilio Colomina (general director).
Parkia – Jesús López Hidalgo (CEO).

Advisers
Equity – Altium Capital (legal); Herbert Smith Freehills (legal).
Vendor – BBVA (corporate finance); Allen & Overy (legal); Garrigues Andersen (legal); Deloitte (tax).

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• Exits
• Consumer
• Southern Europe
• Spain
• EQT