Heuking Kühn Lüer Wojtek advises EasyPark Group on the acquisition of Mobile City
A team led by Dr. Jörg Schewe, Partner at the business law firm of Heuking Kühn Lüer Wojtek in Hamburg, legally advised Swedish EasyPark Group and its German subsidiary EasyPark GmbH, Düsseldorf, comprehensively on the acquisition of German Fintech company Mobile City GmbH, Saarbrücken, from HeidelbergCapital Private Equity Fund II GmbH & Co. KG, Heidelberg, and Pazzi Finance GmbH, Saarbrücken. The purchase price has not been disclosed. The acquisition of Mobile City will make EasyPark the market leader in digital paid parking in Europe, allowing it to offer its services in 41 additional cities in Germany in the future.
By acquiring the Fintech company, EasyPark is also strengthening its presence in Austria and France. With the two additional markets, EasyPark is now operating in nine European countries. Some 500 cities (on-street parking) and 100 private parking operators (off-street) are then collaborating with EasyPark.
The acquisition is Easy Park’s second in 2016 after taking over Tel Aviv-based park-tech startup Parko. The algorithms developed by Parko allow for precise forecasts for free (block-by-block) parking in cities.
EasyPark Group was established in 2004/2005 following the merger of the EasyPark companies in Sweden, Finland, Norway, and Denmark. Since 2006/2007, Easy Park has also been operating in Germany. The company’s technology assists motorists in finding and paying for parking by smartphone.
Saarbrücken-based Mobile City GmbH is an innovative Fintech company providing digital payment systems and mobility solutions in Germany, Austria, and France. Its services will be fully integrated in EasyPark.
Counsel to EasyPark Group
Heuking Kühn Lüer Wojtek:
Dr. Jörg Schewe (M&A/Corporate, Lead)
Fabian G. Gaffron (Tax)
Dr. Christoph Prochnau, LL.B. (Corporate, Commercial)
Dr. Eva Kettner, LL.B. (Employment), all Hamburg