International infrastructure investor Macquarie acquires stake in Best in Parking AG
Best in Parking AG is a leading developer, owner and operator of parking and mobility infrastructure in Central and Southeastern Europe. Together with Macquarie Asset Management, the ambitious growth course of the company as well as the transformation from a pure parking operator to a pioneer for "Smart & Climate Active Cities" will be further pursued.
Vienna, 26 April 2023. Best in Parking AG, based in Vienna, has reached an agreement with Macquarie Asset Management, via Macquarie European Infrastructure Fund 7, to acquire a substantial minority stake on the basis of a capital increase. "The cooperation with Macquarie, one of the world's leading infrastructure investors, is confirmation of the high quality of our long-term infrastructure portfolio and of the company's strategy for further growth not only in the parking and mobility infrastructure sector but also as a pioneer for smart and climate active cities. With Macquarie, we want to take the next step in the successful development of the company," explained Johann Breiteneder, CEO of Best in Parking AG and CEO of the also future majority shareholder, Breiteneder Immobilien Parking AG.
Best in Parking AG currently operates around 87,000 parking spaces at 198 high-quality locations, which act as EV charging stations of the future and hubs for mobility. Currently, the company has 470 EV charging points, which are to be expanded to over 1,000 by 2025. In addition to its core markets of Austria, Italy and Croatia, the company also operates in Switzerland, Slovakia, Slovenia and other markets. Besides parking and mobility solutions, combined with e-charging, the Group also offers IT, traffic, access and smart connected space solutions. These solutions include, for example, lighting, energy and water consumption, traffic management, smart digital payment and cybersecurity solutions. All with the aim of creating sustainable, smart, connected and safe cities.
Gordon Parsons, a Senior Managing Director at Macquarie Asset Management, commented: “The adoption of e-mobility is a critical element of the low-carbon transition as communities seek to reduce air pollution and carbon emissions from the transport sector to meet their net zero goals. Best in Parking’s diverse portfolio in prime locations across the region, digital applications, and impressive ambitions in EV charging make it well positioned to drive this change. We are delighted to enter into this new partnership with Best in Parking as the company continues to adapt to the evolving needs of the communities it serves.”
Johann Breiteneder, CEO at Best in Parking AG, added: “Over the past two decades, our business has undergone tremendous growth as we explored and executed on expansion opportunities in existing and new markets – in parking, traffic and smart city solutions – to improve quality of life in urban areas, in particular. As we move to the next phase of our journey, Macquarie’s investment combined with its expertise in infrastructure, e-mobility and the provision of funding for future growth will bring significant added value. We look forward to our cooperation in the next phase of the company’s evolution in parking, but also as a key enabler of smart and climate active cities.”
Macquarie Asset Management is a leading investor in parking infrastructure and e-mobility solutions. The asset manager currently oversees investments in Telpark, a leading car park operator in Spain and Portugal, and is supporting the rollout of electric vehicle charging infrastructure in Europe through its investments in UK motorway service area operator Roadchef, EV infrastructure business Fleete, and partnership with Heliox.
The majority stake in Best in Parking will be retained by Breiteneder Immobilien Parking AG and thus the founding Breiteneder family and its private foundations. The transaction is expected to close by Q3 2023. The terms of the transaction have not been disclosed.
About Macquarie Asset Management:
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage approximately €520 billion in assets globally, we provide access to specialist investment expertise across a range of capabilities including infrastructure, green investments, real estate, agriculture & natural assets, asset finance, private credit, equities, fixed income and multi asset solutions. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs more than 19,000 people in 33 markets and is listed on the Australian Securities Exchange. www.macquarie.com