Portobello Capital, the leading mid-market private equity firm in Spain, made public that it has signed the sale of EYSA, a market-leading provider of smart mobility solutions, to an affiliate ofH.I.G. Capital, a leading global alternative investment firm. The transaction is subject to regulatory approvals.
The announcement of this sale follows the one last September of the EYSA Citizens business (ElParking and Imbric mobility apps) to Mutua Madrileña. The combined sale of both EYSA and EYSA Citizens is the largest transaction in the Smart Mobility industry in Spain in the last years and represents the consolidation of the strategic plan initiated by Portobello when acquiring EYSA back in 2015.
EYSA, under the ownership of Portobello Capital and its management team led by Javier Delgado, has evolved from a pure regulated parking operator to an integrated tech-enabled smart mobility services platform.
Apart from traditional on-street and off-street parking, the Company today also operates intelligent traffic solutions (ITS), access control and tolling, electrification solutions (EV charging hubs), advanced transportation systems and smart tax management and collection services.
Hand in hand with Portobello Capital, EYSA has entered new markets (such as carsharing, P2P parking, B2B ride-hailing, ITS and access control) and enlarged its presence into new geographies, mainly LatAm (Ecuador, Mexico, Colombia and Brasil) and the US.
“I thank Portobello Capital and its team for the level of commitment in the project and great contribution during the last years in the development of new business initiatives in a complex environment. The whole EYSA team is very excited about the future prospects thanks to the capabilities and potential developed over the last years both in products and geographies. We have set the foundations for an ambitious growth plan in the coming years.”Javier Delgado, CEO of EYSA
Portobello Capital has been advised by Stifel Nicolaus Europe Limited (M&A), Jones Day (Legal), KPMG (Financial, Tax and Labour Due Diligence), Bain & Company (commercial due diligence) and Bearing Point (technology due diligence).
The sale of EYSA represents the sixth transaction executed by Portobello Capital in 2021 following the acquisition of Caiba, Farmol, Legálitas, Condis and Ferrovial Servicios.
“We are highly satisfied with EYSA’s evolution and performance since we acquired the business back in 2015 and believe EYSA is today a global platform ready to conquer large international markets addressing the most complex and demanding mobility requirements.”Iñigo Sánchez-Asiain, Founding Partner of Portobello Capital
Jones Day´s team was led by M&A and Private Equity of counsel Federico Merino.