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City Parking Group is a leading provider of parking solutions operating in Poland, the Czech Republic and Slovakia.

Investor: Royalton Partners

Industry: Business and industrial services

Year of investment: 2009

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Company

City Parking Group is one of the largest parking groups in Central and Eastern Europe. It has over 135,000 parking spaces under management and/or maintenance in Poland, the Czech Republic and Slovakia, including in municipal parking zones, off-street guarded parking and managed indoor garages. Royalton rebranded the group to "City Parking Group" in late 2010. City Parking Group plans to further expand its business in its core markets and in the other countries of Central and Eastern Europe. Over 10% of the shares are held by management.

When Royalton invested in CPG (then Cool AR), the company was a local player based in the city of Grudziadz with 38,000 parking spaces under management and EUR 3.8 million  of revenues. Since then, CPG has become the regional leader in parking solutions for various categories of customers with operations in Poland, the Czech and Slovak Republics. It is present in 81 locations in those three countries. It is a platform for the creation of a leading CEE operator through an expantion of its operations to other countries in the region and diversified services offering, including mobile payment solutions and other high technologies.

Growth

wykres city parking

EBITDA (EUR k - left axis) Revenues (EUR k - right axis)

Main objectives of the funding

  • Support the management in buying out the company from the founders
  • Provide finance for international expansion through acquisitions
  • Consolidate the market
  • Build a strong sales force
  • Drive efficiency of the business
  • Raise company profile through increased marketing

Achievements of the company

  • Increased revenues from EUR 3.5 million EUR to EUR 8.6 between 2009 and 2015
  • Implemented a new uniform brand for all markets and increased brand awareness
  • Invested in new technologies, introduced technologically advanced parking terminals and launched an application for mobile payments CITYPARKAPP
  • Won a prestigious tender in Warsaw in 4 Q 2014 for 10 years for the operation of 35,000 parking spaces

35%
EBITDA growth

from 38 000
to 120 000
increase in parking spaces

Wartość dodana funduszu PE/VC

  • Supported company growth from 38,000 to 120,000 parking spaces, from EUR 3.8 million of revenue and EUR 0.5 million  EBITDA to EUR 8.5 million revenue and EUR 3 million  EBITDA
  • Secured financing to support accelerated growth
  • Provided strategic vision created a platform for regional consolidation and expansion  in CEE
  • Created the fastest growing parking operator in CEE with annual EBITDA growth of 35% over last three years
  • Strengthened and provided support  the management team
  • Increased operational efficiency