Q-Park B.V. (“Q-Park”) announced today that Pontegadea Inversiones, S.L. (“Pontegadea”) has acquired a 20% stake in the company from existing shareholders, including KKR.
Q-Park B.V. (“Q-Park”) announced today that Pontegadea Inversiones, S.L. (“Pontegadea”) has acquired a 20% stake in the company from existing shareholders, including KKR. Concurrently, Interogo Holding AG (“Interogo”), through its infrastructure investment fund Inter Infrastructure Capital (“IIC”), has increased its stake from 12.25%, acquired in August 2024, to 18%. KKR remains the controlling shareholder.
Q-Park is a leading European parking infrastructure owner and operator, with a large and diversified portfolio of ~4,400 owned, leased and managed parking facilities in The Netherlands, Germany, France, Belgium, United Kingdom, Ireland and Denmark. Q-Park focuses on off-street, strategic prime locations and works together with municipalities and landlords to implement sustainable urban mobility plans, leveraging its industry-leading digital capabilities, strategic growth framework and its sizeable and rapidly expanding EV charging offering. Q-Park reported Underlying EBITDA of €247 million LTM as of 30 September 2024. In December 2024, Q-Park further expanded its presence across the value chain of off- and on-street business activities with the acquisition of SAGS, the 4th largest player in the French parking market.
In recent years, Q-Park has successfully navigated industry changes, further strengthening its role in providing sustainable mobility solutions and seamless parking services. With the support from its existing shareholders, the company has significantly expanded its EV charging infrastructure, with 7,000+ EV charging points installed to date and over 10,000 expected by 2027. It further initiated innovative projects including installing solar panels and batteries for producing, storing, and providing renewable energy and enabling future vehicle-to-grid solutions. And with its proprietary Parking as a Smart Service (PaSS) platform, Q-Park enables digital access and payment for its customers and its partners’ customers.
Frank De Moor, CEO of Q-Park, said: “We are excited to welcome Pontegadea as a new shareholder and are equally pleased with Interogo’s decision to increase their stake to 18%, which reflects confidence in the strategy and future potential of Q-Park. I look forward to the partnership as we continue to deliver on our ambition to be the most preferred mobility partner.”
Roberto Cibeira, CEO at Pontegadea, said: “This new transaction represents a further step in Pontegadea’s global strategy of investment diversification and delivers on its commitment to invest in innovative infrastructure through Q-Park, which combines the latest technology with a strong environmental focus, in partnership with blue-chip parties such as KKR and Interogo.”
Constantin Dogos-Docovitch, Head of Infrastructure at Interogo Holding, said: “We have been very pleased with Q-Park’s performance since becoming shareholder in the Company over the summer. Q-Park has continued to deliver consistent growth and cash flow yield and the recent acquisition of SAGS in France further demonstrates Q-Park’s ability to execute on its strategy and strengthen its leadership in Europe. We are excited to deepen our partnership with Q-Park and look forward to partnering with KKR, Pontegadea and the other shareholders of Q-Park to support the management team in delivering its strategy.”
Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: “These transactions mark a significant milestone for our investment in Q-Park, bringing on board a highly respected, long-term partner alongside KKR, Q-Park and its management team. We are also pleased to deepen our collaboration with Interogo. Together with our esteemed partners, we look forward to supporting Q-Park in driving its strategy and growth ambitions, including the continued expansion of its digital solutions and EV charging infrastructure across its parking facilities.”
KKR initially invested in Q-Park in 2017 through its Global Infrastructure strategy, to support the company’s digital transformation and the expansion of its EV charging infrastructure. Since KKR’s investment, Q-Park has adopted to evolving urban mobility needs, reinforcing its position as a frontrunner in sustainable infrastructure. KKR established its Global Infrastructure business in 2008 and has since grown to one of the largest infrastructure investors globally with a team of more than 115 dedicated investment professionals and other value creation executives. The firm currently oversees approximately US$77 billion in infrastructure assets globally as of 30th September 2024.
Morgan Stanley & Co. International plc and Clifford Chance acted as advisers to the shareholders of Q-Park. Pontegadea was advised by Rothschild and De Brauw. Interogo was advised by DC Advisory and Kirkland & Ellis.
About Q-Park
Q-Park is a leading off-street parking infrastructure owner and operator with well-managed commercial parking facilities across seven western European countries. We operate off-street parking spaces we own, have under concession or with long-term lease contracts from public and private landlords. We focus on off-street purpose-built parking facilities at strategic locations. We operate more than 3,600 parking facilities comprising over 706,000 parking spaces in the Netherlands, Germany, France, Belgium, United Kingdom, Ireland and Denmark. Based on publicly available industry data for our competitors, we estimate that we are a top three player, based on the estimated off-street revenues, in all the countries in which we operate. Q-Park also has numerous mobility hubs which provide access to a variety of mobility solutions. We house and support a range of activities from last mile logistics, electric vehicle charging, micromobility and car sharing services which help support urban accessibility, sustainability and liveability.
About Pontegadea
Pontegadea Group is an investment holding company created in 2001, focused on a wide range of sectors as real estate, energy, infrastructure or retail, including long-term equity and liquid assets among its strategy.Furthermore, the portfolio of top-level assets located in Europe, America and Asia, Pontegadea holds a significant stake in traded companies such as Inditex, Enagás, REN or Redeia.
About Interogo Holding and IH Infrastructure Advisors
IH Infrastructure Advisors is the infrastructure investment team of Interogo Holding. IH Infrastructure Advisors targets direct investments, mainly in Europe, across the infrastructure sector. The strategy is to acquire holdings in infrastructure companies that provide essential services to society, are recession resilient and offer downside protection through stable and predictable cash flows.
Interogo Holding’s infrastructure investments are made by its investment fund Inter Infrastructure Capital, managed by Inter Fund Management, and advised by IH Infrastructure Advisors.
Interogo Holding is a foundation-owned investment group. Investment strategies include private and long-term equity, real estate, infrastructure, and liquid assets. Please read more about Interogo Holding at www.interogoholding.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Media
Interogo Holding
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Pontegadea
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KKR
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