EasyPark Group's acquisition of PARK NOW Group is complete

STOCKHOLM, June 1, 2021 /PRNewswire/ -- Authorities have announced their approval of EasyPark Group's acquisition of the global provider of digital parking services, PARK NOW Group. Thereby, EasyPark Group today announced the closing of the transaction and PARK NOW Group is a part of EasyPark Group from June 1, 2021.

On March 9, EasyPark Group announced the intended acquisition of the global provider of digital parking services, PARK NOW Group. The acquisition has now been unconditionally approved by the relevant antitrust authorities, and all assets and liabilities have been transferred from the shareholders BMW Group and Daimler Mobility AG to EasyPark Group.

The acquisition enables EasyPark Group to grow further and become a global pacesetter within digital parking, electrical vehicle charging and mobility services. The two companies are perfectly positioned with a complementary market coverage in Northern America, Australia, New Zealand, UK (covering England, Scotland, Northern Ireland, Wales) and rest of Europe, with a growing reach of currently 3,200 cities globally.

Following the closing of the acquisition, Jörg Reimann steps down from his role as CEO for PARK NOW Group and Johan Birgersson, CEO of EasyPark Group, takes over as CEO of the expanded Group.

– This is a historic milestone in the industry, and we are very excited to embark on this journey. Most of all, I am proud to be leading such a strong organization with talented employees. With global coverage and scale, as well as an integrated portfolio, we will be able to make cities more liveable by driving the development of new, smart and integrated digital services, says Johan Birgersson, CEO of EasyPark Group.

– We are delighted to see the combination of two successful companies creating a pacesetter in the field of digital parking services. Park Now Group and EasyPark are a perfect match that will provide attractive and innovative offerings for customers worldwide, says Stephan Unger, Member of the Board of Management of Daimler Mobility for Finance, Controlling, Risk Management and Digital Mobility Solutions.

– The approved acquisition of PARK NOW Group is the starting point of a new era of EasyPark Group. It will raise the joint operations to a new level and thus foster innovation and increase customer benefit. Together, EasyPark Group and PARK NOW Group will be able to provide a wide range of digital parking services, offering ever more seamlessly integrated services to their customers, says Rainer Feurer, Senior Vice President of Corporate Investments at BMW Group.

The integration of the two companies will be realized in several steps concerning commercial offerings, internal organization and ways of working.

– We are now entering a discovery and integration phase where we will make sure to draw from the strength, knowledge and spirit of both PARK NOW Group and EasyPark Group, to build our future success. Together we have a huge potential, and as one united company we will be able to offer even more value to drivers, businesses, cities and parking operators all around the world, says Johan Birgersson.

The parties have agreed not to disclose the terms of the transaction.

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Louise Ekman
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SOURCE EasyPark