Isolux Corsán Aparcamientos, a subsidiary of Group Isolux Corsán Concessions, and Edifice Capital Group through its funds among others the FCPR Edifice Infra Euro, engaged in the financing of infrastructure projects in Europe, have signed an agreement for the investment of a total of €150 million in the management of car parks in Spain.

This joint venture will give rise to an undertaking that will operate around 50,000 parking spaces, 23,500 that Isolux Corsán Aparcamientos already manages and the rest of new acquisition, which will make the new company the market leader in Spain in the operation of car parks in structure.

Isolux Corsán is one of the leading companies in Spain in developing and operating public and private carparks. The group has 23,500 spaces in 46 carparks located in 22 Spanish towns.

In July 2012, Isolux attracted €500 million investment of the Canadian pension fund, Public Sector Pension Investment Board, into its Infrastructure business.

Edifice Capital

Edifice Capital Group manages investment funds dedicated to finance economic and social infrastructure projects in hospitals, office buildings, stadiums, roads, trams and schools, among others.

Edifice Infra Euro is an infrastructure fund that aims to invest in equity and quasi-equity projects in social and economic infrastructure (hospitals, office buildings, stadiums, highways, tramways, schools, ...) in the mode of Public-Private Partnerships  (PPP), in France and the euro zone. The main countries in which the Fund invests are France, Italy, Spain, Belgium and Germany.

The Fund has a life of 15 years with 3 years of investment period. Edifice Infra Euro only invest in Euro projects.

Isolux Corsán Aparcamientos

Isolux Corsán Aparcamientos was founded in 2006 with the objective of developing and operating the management of both public and private parking spaces. The company makes a permanent investment in technological innovation, offering users a network of comfortable and competitive car parks.

The Carparks area in Isolux Corsán has been growing at 32.3% since 2006. It focuses on three activities:

• Development and operation of short-stay carparks
• Management of street parking (ORA pay and display system)
• Management of resident carparks

Advisors

The operation has been advised by Edmond de Rothschild Group, KPMG France, IZ Equity & Debt Solutions, as well as legal firms Jeantet, Uria Menendez and Garrigues.

Source: Isolux Corsán