Energy and Infrastructure SME Fund, managed by Lords LB Asset Management, Lithuania based fund management company, announced that it has acquired 100 percent of shares of City Parking Group S.A. from Royalton Capital Investors II L.P., a private equity fund.
This is the first investment in Poland for Energy and Infrastructure SME Fund. The sale of City Parking Group also marks Royalton’s first sale from the six investments held by the fund. The terms of the agreement are not being disclosed.
City Parking Group is Central Europe’s leading car parking group offering parking solutions to customers in Poland, Czechia and Slovakia. Company provides services in over 90 locations with total of over 165,000 on-street and off-street parking spaces.
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.
“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,” said Nigel P. Williams, the Chairman of Royalton Partners.
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.
Notes to editors
About Energy and Infrastructure SME Fund and Lords LB Asset Management
Lords LB Asset Management is an investment management company, licensed and supervised by the Bank of Lithuania. The company has been providing investment management services to institutional clients and high net worth individuals since 2008. Lords LB Asset Management manages 14 funds: 9 real estate funds, 3 private capital funds and 2 energy and infrastructure funds. The total value of assets managed by the funds reached Euro 324 million at the end of June 2017.
Established in 2016, Energy and Infrastructure SME Fund aims to acquire and develop assets in energy and infrastructure sectors. Target fund size – EUR 75 million.
About Royalton Capital Investors II L.P. and Royalton Partners
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, the advisor to the fund, is a Luxembourg Alternative Investment Manager
(AIFM) managing Euro 1.2 billion of private equity, real estate and infrastructure funds. Nigel P. 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.