Sector: Urban Mobility – Parking
Sponsor: Arpinge (99%)
On the 5 of May 2019, Arpinge SpA has completed the acquisition of 99% of Park.Ho SrL, the company that holds the concession for the construction and management of the parking areas and of some appurtenances to the service of the Regional Hospital San Carlo of Potenza (main point of reference of the Lucanian Health care System), for a total of about 2,000 parking lots in rotation in addition to a car repair shop and a car wash.
The counterparty of the transaction is the construction company De Vivo SpA, which has built and managed the parking lots over time and remains in the Park.Ho equity with a minority stake. De Vivo SpA will also remain significantly involved in the project through the assignment of the management services.
With this operation, Arpinge expands its investment portfolio in the parking and mobility sector to catch the opportunities deriving from the profound technological innovation that characterizes this sector. In Arpinge’s strategy, also taking into account the wide pipeline of further operations currently being under analysis, the asset class of car parks and, in general, urban mobility is confirmed as a priority share of the group’s investment portfolio.
Park.Ho Srl currently holds in concession, with a residual duration of about 14 years, the parking areas at the service of the San Carlo Hospital of Potenza, consisting of 6 areas at ground level for a total of about 1,350 parking spaces and a multi-storey car park of about 670 parking spaces. The car parks are used both by hospital users and by students and employees of the nearby University. The perimeter of the subject of the concession is completed by some appurtenances consisting of 17 mini-apartments for guest use, a building used as a car repair shop and a space used as a carwash. The construction works carried out under concession, at the total cost of private entities and therefore without any burden for the tax payer, significantly improved the accessibility to the Hospital of Potenza and guaranteed an adequate response to the citizens’ growing demand for high-quality non health care services, belonging to the same healthcare facility.
De Vivo SpA, a construction company that has built and managed the parking lots over time, remains significantly involved in the project through the assignment of the management services.
In Arpinge’s programs, after Gespar – concessionaire of several public parking lots in Parma – Park.Ho is the second investment in the parking and mobility sector. Altogether, almost 4,000 rotating parking spaces are those in concession to Gespar and Park.Ho with the aim of dedicating resources to the modernization and upgrading of parking lots in agreement with the Granting Authorities, as well as of investing in the development of new services aimed at improving quality of users’ lives.
As part of the transaction, Arpinge availed itself of Cuppone & Partners Law Firm legal assistance, DMG & Partners accounting and tax advisory and EOS Consulting SpA technical assistance.