Luxembourg, October 2017- announcement by Royalton Partners S. A. as third party fund manager and manager of Royalton Capital Investors II L.P.
Royalton Partners, the AIFM of Royalton Capital Investors II L.P., a private equity fund, announced that on 27 July 2017 it has sold City Parking Group z o.o. (“CPG”), through City Parking Group Holdings its Luxembourg holding company to Energy and Infrastructure SME Fund , a Lithuanian private equity fund managed by LORDS LB
The sale of City Parking Group marks Royalton’s first sale from the six investments held by the fund.
City Parking Group (http://www.cityparkinggroup.pl) is Central Europe’s leading car parking group offering parking solutions to customers in Poland, the Czech Republic and Slovakia. The group currently has under management 165,000 on and off -street parking spaces and is present in 106 locations. City Parking Group revenue reached 57.1 million PLN (€13.6M) last year with EBITDA of 15 million PLN (€3.3M). Company employs more than 280 highly skilled professionals that have an excellent track record of business expansion.
Royalton originally purchased control of ACTIV, a Czech and Slovak parking company in January 2009. Later that year 93% of the dominant Polish on-street parking company COOL AR was acquired. The combined group was renamed City Parking Group Sp. In the third quarter of 2016 e-Vend S.A., an off- street parking company managing 7,600 parking spaces in 16 sites in Poland was added to the group.
Nigel P. Williams, the Chairman of Royalton, said:
“We are happy with the sale of City Parking Group. Under Royalton’s stewardship the group has become a regional player and the leading force in both the off and on street parking segments in Central Europe. “
Since 2004, CPG has been managed by Michal Wikliński who will continue as CEO.
Michal Wikliński said:
“We have grown the company with the support of Royalton and we look forward to going to the next stage with our new owner LORDS LB. Our company is moving ahead with electronic parking solutions across various platforms to further enhance customer experience.
Jonas Kimontas, Fund manager of Energy and Infrastructure SME Fund at Lords LB Asset Management, spoke about the deal saying:
“We are investing in a company with a strong potential that has social, technological and environmental edge over competitors and been steadily growing for the last 5 years. We are looking forward to increasing its growth by expanding business and further consolidating market in the region.”
According to Mr. Kimontas, City Parking Group S.A will continue to pioneer parking innovations that ensures efficient management of parking spaces. The company also will be more involved in public–private partnership (PPP) parking projects and will further develop intelligent mobility solutions, which allow to increase convenience and quality of services, satisfy growing demand for parking spaces and lower traffic congestion in the cities.
Royalton Capital Investors II L.P. is a private equity fund focused on making private equity investments in the EU accession countries of Central and Eastern Europe. The fund was established in 2007.
Royalton Partners S.A., the manager of the fund, is a Luxembourg Alternative Investment Manager (AIFM) managing Euro 1.3 billion of private equity, real estate and infrastructure funds. Nigel Williams, Ivan Vohlmuth and Roman Babka the founding partners, have been working together since 1990 and manage the firm from offices in Luxembourg, Warsaw and Prague.