Bridgepoint Capital has completed the purchase of Scanpark, Norway’s fourth largest car park operator that builds on its Nordisk Parkering (NP) acquisition, which the UK-headquartered mid-market private equity firm bought in July 2001. The two combined entities will become the second largest operator in Norway.
The investment comes from Bridgepoint’s EPEF I fund, the source of the original investment in Nordisk Parkering. Bridgepoint was advised by Ernst & Young Corporate Finance and Kvale & Co (legal). Financial terms of the transaction have not been disclosed.
James Murray, director at Bridgepoint Capital, said the deal formed part of Bridgepoint’s strategy of expanding NP through organic growth and acquisition across the Nordic region. “The acquisition of Scanpark fulfils our primary aim of achieving consolidation in the Scandinavian market. We singled out Scanpark as an important acquisition as part of this process.”
Bridgepoint Capital typically makes investments in companies valued up to E400m in a broad range of sectors to fund expansion, management buyouts and buy-ins and public-to-private transactions. Bridgepoint has E4bn of funds under management.