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On 17 November 2023, Schroder British Opportunities Trust plc (SBO) confirmed that its private equity investment, EasyPark Group, announced its intention to acquire Flowbird Group. The proposed acquisition is subject to customary approvals by relevant authorities, and the parties have not disclosed the terms of the transaction.
| Date | 17 Nov 2023 |
| Time | 07:00:06 |
| Category | Acquisitions and alliances |
| ID | 7365T |
Schroder British Opportunities Trust plc
EasyPark Group announces intention to acquire Flowbird Group
Schroder British Opportunities Trust plc ("SBO" or the "Company") is pleased to confirm that one of its private equity investments, EasyPark Group, one of the global leaders in mobile paid parking, has announced its intention to acquire Flowbird Group, a global mobility player providing integrated parking and transportation solutions. The deal is subject to customary approvals by relevant authorities and the parties have agreed not to disclose the terms of the transaction.
Flowbird Group operates under the brands Flowbird, YourParkingSpace, TPARK, Extenso Cloud, and Yellowbrick. They offer multiple mobility solutions, covering equipment and services including pay and display machines, software, park & charge, open payments for debit and credit cards and mobile wallets.
EasyPark Group helps drivers save time and money by finding and managing parking and electric vehicle charging. It allows businesses, parking operators, property owners and cities to administrate, plan and take data-driven decisions. The company owns and develops the apps EasyPark, ParkMobile, RingGo and Park-line and operates in over 4,000 cities across more than 20 countries.
The intended acquisition of Flowbird Group supports EasyPark Group's aspiration to become the world's leading mobility platform provider.
Tim Creed and Pav Sriharan, two of the Company's portfolio managers, commented: "We are delighted with the progress that EasyPark Group has made since our initial investment in 2021 and believe this deal would be highly complementary to their existing business and extend their global reach"
Enquiries:
Schroder Investment Management Limited
Shilla Pindoria (Company Secretarial)
Augustine Chipungu (PR 020 7658 6000
Peel Hunt
Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)
Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris (Sales) 020 7418 8900
About Schroder British Opportunities Trust plc 'SBO'
SBO invests in a diversified portfolio of UK-focussed public and private equity companies with long-term growth prospects.
Further information on the Company is available at www.schroders.com/sbo