Schroder Br.Opps.Tst - EasyPark Group intends to acquire Flowbird Group
17/11/2023 07:00
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RNS Number : 7365T Schroder British Opportunities Tst. 17 November 2023
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
(http://www.schroders.com/sbo)
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