LONDON, UK: Schroder British Opportunities Trust plc confirmed 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”