100% of Q-Park shareholders accept offer of KKR Infrastructure
Partnership with KKR Infrastructure will support company’s growth strategy
KKR, a leading global investment firm, has today announced that 100% of the shareholders of Q-Park N.V. (Q-Park) have accepted its offer for all shares in Q-Park.
Vincent Policard, Director of KKR Infrastructure, said: “We are delighted to have received the approval of the full Q-Park’s shareholder base. We look forward to working with the company to support its growth strategy, team up with public and private partners to provide mobility solutions for the cities and offer Q-Park enhanced access to funding in the context of the anticipated consolidation of the fragmented parking industry.”
Frank De Moor, CEO of Q-Park, said: “This is an important milestone for Q-Park. KKR’s sector expertise, track record and broad range of financial and operational capabilities make it the perfect partner for the next stage in the company’s development. I look forward to working closely with the KKR team as we capitalise on the opportunities ahead of us.”
Under KKR’s ownership, Frank De Moor, Chairman of the Management Board and CEO since 2014, and Marcello Iacono, CFO since 2015, will continue to head the management team. All current arrangements with works councils, relevant trade unions and Q-Park’s staff remain in place.
The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2017. Q-Park’s ownership shifts from the current group of shareholders to KKR's infrastructure funds.
Q-Park is one of the biggest parking service providers in Europe with strong market positions in the Netherlands, Germany, Belgium, Great Britain, France Ireland, Denmark Sweden, Norway and Finland. Q-Park is a recognized quality-leader in the area of parking. Its portfolio includes approximately 835,000 parking spaces distributed in over 6,195 parking facilities in ownership, operation, management or a combination thereof. In the Netherlands, Q-Park has 262 parking facilities including 97 P+R areas.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
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