An infrastructure fund of Austrialia's Macquairie Bank agreed to purchase the car-parking facilities of National Car Parks for £790 mln (EUR 1.15 bn) from private equity firm the 3i Group. National Car Parks is the market leader in the U.K. with 850 car parks providing a total of 50,000 spaces. 3i purchased the car park company just 20 months ago from another private equity firm, Cinven, for £555 mln, including debt. With the sale, 3i said that it has tripled the £121 million equity it had invested in the owner of off-street, airport and railways car parks. A services unit, which includes bus and coach operations, towing services and debt recovery, is being retained by 3i.
Premium subscriber content – please log in to read more or take a free trial.
