KKR exits car park operator Saba

Caixa, which already controlled around 51% of the business, also acquired the minority stakes owned by Torreal (20%) and ProA Capital (10.5%), and reached a 99% holding in the company. 

Caixa acquired the combined 49% stake in Saba for €438m.

KKR acquired a 12.5% holding in Saba in November 2011 and an additional 5.66% in 2012 from Criteria Caixa for an undisclosed amount.

According to KKR, the firm supported Saba's international growth and its expansion into Portugal, Italy and Chile. It also helped Saba exit its logistics parks business to focus on growing its car parking operations. In addition to this, KKR Capstone and KKR Capital Markets supported Saba in increasing cost efficiencies and optimising its capital structure.

Company
Headquartered in Barcelona and founded in 2011 as a spin-out from Spanish highways operator Abertis Infraestructuras, Saba specialises in urban mobility and car park management. The company employs 1,500 people across Europe and Latin America, and generated EBITDA of €100m from revenues of €213m in 2017.

People
KKR – Tara Davies (head of European Infrastructure); Alejo Vidal-Quadras (director, head of the Madrid office).

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• Topics
• Exits
• Southern Europe
• Consumer
• KKR
• La Caixa
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