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Date: 8/02/2017
Category: Disinvestments

GED INFRASTRUCTURE SELLS ITS PARTICIPATION IN EMPARK PARKING.

The private equity firm GED, which operates in middle market segment, through its subsidiary GED Infrastructure, has completed the 8,27% share sale that its infrastructure fund boasted of Empark Aparcamientos y Servicios. The sale was made in favor of two of the current Empark Aparcamientos shareholders. The operation, closed in 2016, has ended in February after the bondholders syndicate approval that currently finances Empark.

The investment of GED Infrastructure fund in the project ran into 20,5 million euros, constituting one of the most relevant operations of the investment vehicle. The sale was made after the objectives for the investment were reached.

GED Infrastructure acquired along other financial partners, Cintra Aparcamientos to the Ferrovial group in 2009, merging it later with Emparque, Portuguese company, to create the main parking spaces operator in the Iberian Peninsula, both by revenue and managed places number, a total around to 380.000 places. Nowadays Empark has become in one of the main European operators, with more than 530.000 parking spaces under management and with businesses in the Iberian Peninsula, United Kingdom and Turkey.

This transaction sale of the GED Infrastructure in Empark Aparcamientos takes place after the Metro Ligero Oeste sale to the British Aberdeen fund in March 2016. The fund to which both operations belong, was constituted with fully paid initial of 169 million And its participants are institutional investors. GED will soon begin the uprising of its next infrastructure fund.

For Victoriano López-Pinto, GED’s managing partner and responsible for its infrastructure division, “the divestment success of Empark Aparcamientos is an example of the capacity to generate long-term value from the GED Infrastructure team and the virtues of the infrastructures sector, capable of generating attractive returns, even when market conditions are unfavorable”.

GED Infrastructure: a commitment to diversification

GED Partners, an independent private equity group, reached a purchase business agreement for the infrastructure fund management from Ahorro Corporación two years ago. This activity included five investment vehicles, which three of them, are promoted by the European Investment Bank. The total amount of projects developed by GED Infrastructure currently stands to more than 2.000 million euros with a very diversified composition: transport, telecommunications, parking, social infrastructure, ports, energy efficiency, etc.

The infrastructure funds acquisition by GED allowed their business diversification, the new ¨asset class¨ incorporation that fit with the firm’s global strategy and its investors characteristics. The GED objective is to develop a solid position with the “middle market” infrastructure operations reference manager in Spain.

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