Indigo Group signs an agreement to acquire 100% of APCOA Belgium

Published on 04.07.2024

Indigo Group today announced it has signed an agreement with APCOA Holdings GmbH ("APCOA") to acquire APCOA's Belgian subsidiary, APCOA Belgium NV ("APCOA Belgium"), including a 50% stake in ParcBrux BV (the remaining 50% being already owned by Indigo) and a 50% stake in Maatschap Parkeren Leuven.

APCOA Belgium operates 36 contracts across four regions in Belgium (Antwerp, Flemish Brabant, Limburg and East Flanders) and generated over 18 million of euros of revenues in 2023.

APCOA Belgium car parks are mostly located in areas where Indigo Group is already present, facilitating the integration of APCOA Belgium's operations within Indigo Group organization. This, combined with the addition of operational and commercial expertise and a shared culture of excellence, is expected to create significant synergies.

In Belgium, Indigo Group operates 240 contracts across 75 cities and generated more than 64 million of euros of revenues in 2023. The contemplated transaction will allow Indigo Group to expand its contracts portfolio with high-quality assets and to consolidate its leadership position in Belgium. It will also provide Indigo Group with an opportunity to accelerate and intensify the deployment of its strategy in Belgium and strengthen its competitive position in the attractive on-street and electric vehicles charging markets. Finally, following the contemplated transaction, Indigo Group will own and fully consolidate 100% of ParcBrux BV.

Sébastien Fraisse, President of the Indigo executive board, comments: "This operation fits perfectly into the Group's strategy of strengthening its positions wherever it is deployed, both off-street and on-street. The complementarity of the portfolio of contracts provided by APCOA Belgium with that already held by Indigo Belgium, and the cultural proximity between the two structures will allow an accelerated and value-creating integration. It is also in line with our commitment to work alongside cities to support urban transformation, ensuring that they can respond effectively to the changing mobility needs".

Bert Pijls, Executive Chair of APCOA says: "The acquisition is beneficial for both sides, allowing Indigo to leverage synergies and APCOA to refocus the allocation of resources and investments in markets with a better market position and stronger commercial connections. We sincerely thank the entire team of APCOA Belgium for their longstanding commitment to our business and are confident that this transition will enable the business to continue to thrive under new leadership and collaboration."

The completion of the transaction is subject to customary conditions and is expected before the end of July 2024.