Parkia

Parkia is the leading pure off-street car park operator in Spain, with operations in Spain and Andorra.

EQT Infrastructure acquired Parkia in 2011 in a carve-out from listed construction and infrastructure company Acciona, representing EQT’s first investment in Spain.

In 2014, EQT Infrastructure and Spanish insurance company Mutua Madrileña merged their car park operators Parkia and MutuaPark. 

By 2015, Parkia was the leading pure off-street car park operator in Spain with 58 car parks and the third largest off-street car park portfolio in terms of car park spaces (ca. 27,000). The company operated under long-term concession agreements with mainly municipalities and with an average remaining life of ~30 years.

Throughout its ownership, EQT Infrastructure supported management in implementing operational excellence across its car park portfolio, commercializing its product offering and pursuing a dedicated M&A strategy. 

In 2016, EQT Infrastructure (66.8%) and Mutua Madrileña (33.2%) sold Parkia to First State Investments.

 Key events during EQT's ownership

  • Doubled the car park portfolio through concession renegotiations (2 car parks), merger with Mutuapark (23 car parks) and add-on acquisition (4 car parks)
  • Optimized car park revenues through introduction of dedicated and incentivized commercial team, new product offerings and campaigns
  • Rolled out new initiatives to expand and roll-out ancillary revenues (rent-a-car, car wash, vending, advertising, etc.)
  • Adopted new technologies to improve user experience (new website, online booking/payment etc.)
  • Implemented cost efficiency initiatives (i.e. remote control, LED lighting, outsourcing, back office centralization, etc.)