The transaction is expected to close in the next three months, subject to receipt of required regulatory approvals as well as other customary closing conditions.

Apcoa provides car park management services across Europe and operates more than 1.8 million parking spaces across 13,000 sites in over 400 cities. With approximately €900m in annual revenues, Apcoa is a trusted partner for private and public real estate owners, providing outsourced services for parking centres, EV charging stations and urban hubs focused on sustainable mobility and logistics solutions for smart cities.

Funds managed by SVP have been a minority shareholder in Apcoa since 2014. As part of this acquisition, SVP funds will acquire shares from current majority shareholder Centerbridge and other minority shareholders.

Philippe Op de Beeck, CEO of Apcoa, thanked Centerbridge for its support and said the company is looking forward to its next chapter of growth under the ownership of SVP. “We see SVP's investment as a strong vote of confidence in Apcoa's strategy and business model, the strength of our client relationships and the quality of the management team and broader employee base,” he said.

“With this backing, we will continue to focus on maximising the value of our clients' assets, developing our digital services, and increasing our push into EV charging and inner-city sustainable mobility."

John Brantl, co-head of SVP's European investment team, commented: "We are excited to partner with the team at Apcoa to unlock significant value, particularly around increasing automation, capitalising on underutilised space and monetising EV charging."