- The company has acquired all shares of Indigo’s companies in these four countries
Saba, subsidiary of CriteriaCaixa group, has reached an agreement with Indigo to acquire all shares of its companies in the United Kingdom, Germany, Slovakia and the Czech Republic. The transaction became effective today except for the acquisition of companies in the Czech Republic, which is set to conclude in the coming weeks.
This acquisition will help strengthen Saba’s role as an industrial leading operator, given that it will now manage 378,000 parking spaces and 1,175 car parks in nine countries, with an average concession life of 25 years. Moreover, in pro forma figures, it will put revenue at 285 million Euros and EBITDA at 118 million Euros, and give it an EBITDA margin of 41.5%, the highest figure among companies in the car park sector. The company’s workforce will also increase by more than 50%, up to 2,300 employees.
This marks an unprecedented qualitative leap and a significant improvement in Saba’s car park business, with an 80% increase in the number of places, a 34% increase in revenue and an 18% rise in EBITDA. Saba’s move into the United Kingdom, Germany, Slovakia and the Czech Republic will complement its current position in Southern Europe, where it has an established presence in Spain, Italy and Portugal, and constitutes a strategic springboard for its future expansion towards Central Europe.
President of Saba, Salvador Alemany, emphasized that the completion of this transaction will help “strengthen Saba’s long-term industrial project and lend coherence to the road map set out by the company to establish it as a leading player on the world stage”. In this regard, he added that “the nature of these new assets will help preserve Saba’s business model and fits with our strategy of growth and geographical diversification”.
Saba’s Chief Executive Officer, Josep Martínez Vila, stressed that “expanding into new countries and taking over new, high-quality assets in strategic urban locations ties in with the company’s strategy to play an active role in sustainable mobility, thereby responding to new consumer needs and providing its customers with quality and value-added services”. Along similar lines, he stated that “in addition to international growth, Saba’s business has always been linked to local economies and the progress of cities and their residents through parking infrastructure that is firmly rooted in the countries where the company operates”.