Brookfield and Partners Group to acquire Firmum's car parks for €400M

Brookfield and Partners Group to acquire Firmum's car parks for €400M

Brookfield and Partners Group are finalising the purchase of Firmum Capital's car parks, the company created by Cristian Abelló, for more than 400 million euros.

At the end of last year, it was already reported that the Canadian fund was the best positioned to acquire 49% of Firmum Capital, Cristian Abelló's car park company, according to El Economista. Partners Group, the Swiss fund that controls 25% of the jewellery firm Tous, has joined the operation.

Firmum was created in 2015 by Cristian Abelló, Bernardino Díaz-Andreu and Fernando Pire, with the aim of investing in parking infrastructure. The firm invests through its investment vehicle and manager APG Gestión de Aparcamientos. They are also accompanied by clients of Banco Sabadell (Sabadell AM) and Altamar Capital Partners.

At the end of last year, the company had more than 43,000 places in 110 assets in thirteen autonomous communities: Andalusia, Asturias, the Canary Islands, Castilla y León, Castilla La Mancha, La Rioja, Catalonia, Valencia, Extremadura, Galicia, Madrid, Murcia and the Basque Country. The valuation of 100% of the company stands at 250 million euros. The company manages the car parks through APK, which acts as the operator of the car parks.

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