Sector: Urban Mobility – Parking

Sponsor: Arpinge (100%)

On 30 October 2019, Arpinge S.p.A. has completed the purchase from Fondaco SGR Ltd (on behalf of the PPP Italia Fund), EP European Holding LLC and Astaldi Concessioni S.p.A.) of the entire share capital of AST B Parking Srl and AST VT Parking Srl, owners of a portfolio of 5 parking lots under concession serving the city center of Bologna, Turin and Verona for a total of about 3,300 parking spaces in rotation.

With this operation Arpinge significantly expands its portfolio of investments in the parking and mobility sector to seize the opportunities deriving from the profound technological innovation and the energy transition that characterize the sector. In Arpinge’s strategy, also considering the ESG value (Environmental, Social and Governance) of this type of infrastructure, the share of the portfolio has risen to around 50% of the total, alongside investments in energy efficiency and renewable sources.

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AST B and AST VT are the owners of a portfolio of 5 parking lots under concession realized over time by Astaldi to serve the city center of Bologna, Turin and Verona for a total of about 3,300 rotating parking spaces; average residual duration of about 42 years and management entrusted to Apcoa, an international specialist operator.

The parking lots created under concession improve the accessibility of the historic centers of the three cities, allowing public administrations to adopt mobility choices over time to enhance urban centers and improve environmental quality for the health of citizens. As part of the Public Private Partnership, a collaboration between public administration and institutional investors appears to be ideal, characterized by principles of responsibility in the investment and management of works that serve the public interest.

With this investment, flowing the one in Gespar – concessionaire of several public parking lots in Parma – and Park.Ho – concessionaire of the parking system for the San Carlo Regional Hospital of Potenza – the Arpinge group is present in 5 important Italian cities with over 7,000 parking spaces in rotation under concession. Every year more than 3 million vehicles pass through the parking spaces, generating a turnover of over 10 million euros. In a few years Arpinge became the fourth independent investor in Italy in the parking and mobility sector by the number of parking spaces and the first Italian investor.

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In the transaction, Arpinge availed itself of the assistance of the lawyers Carla Mambretti and Nicola Gaglione from the law firm Gattai, Minoli, Agostinelli & Partners; of Byom S.r.l. and Prothea S.r.l. for financial aspects, of the accounting firms Ferri Minetti & Associati and Cisternino Desiderio & Partners for the accounting and tax aspects, of EOS Consulting S.p.A. for technical profiles, of Systematica S.r.l. for market aspects and of Marsh SpA for insurance advisor. The sellers were assisted by PricewaterhouseCoopers Advisory S.p.A. and by the law firm Legance Avvocati Associati.