Indigo Group has announced that it has reached an agreement to acquire the parking activities of Spie batignolles concessions, operated under the Spie Autocité brand.

The company operates 14 contracts under the Spie Autocité brand, comprising 29 car parks of which one is under construction, and 2 on-street operations, together totaling around 20,000 parking spaces. The car parks are located in Paris, primarily nearby the gates of Paris (Porte de Saint Cloud, Porte d’Auteuil, Porte de St Ouen), and in suburban areas (La Garenne Colombes, Montrouge, Conflans-Sainte-Honorine, Achères), as well as in Lille and Lyon. In 2017, these parking activities generated revenues of around EUR32 million (US$36.4 million).

This acquisition will allow Indigo to increase the density of its network in France in the cities in which it is already present. The complementary nature of the two companies’ geographical footprint will lead to significant operational synergies.

The transaction, subject to conditions precedent, shall be finalized by the end of the first half of 2019.