Suma Capital has sold its stake in Parkare, the Spanish leader of control systems for on street and off street parking. Came Group, an Italian multinational specialized in automated security and building management processes, has bought out the company. Came is a family-owned business present in 118 countries, with revenues of 215 million Euros. Parkare is a private company, headquartered in Barcelona, present in 6 countries and distributed in 21. Its revenues are expected to reach 35 million Euros by year-end. The company results from the combination of Mabyc, Ibersegur of Spain and Alfia of the U.K. Such consolidation was achieved successfully by private equity firms MCH, based in Madrid, and Suma Capital, who together have managed the company over the past years.
MCH and Suma Capital have supported the transformation of Parkare into a European player present also in Mexico and Chile. As a result, two thirds of Parkare’s clients are now international. Among notable Spanish clients are the city of Barcelona and the city of Madrid, where Parkare has won an important tender this year to install a third of all new equipments. While the transaction price has not been disclosed, the private equity owners have sold their 100% stake and generated a profit.
Came’s CEO Paolo Menuzzo has declared: “This transaction, that combines two service-oriented companies, will allow us to develop new synergies and growth strategies. Parkare’s CEO, Joan Julià, considers that “It will open – arguably – a lot of expansion opportunities in new markets where Parkare was not present yet”. He added that this transaction would be positive for both Parkare’s clients and its 223 employees.