Platinum Equity today announced the acquisition of Euro Parking Collection plc (EPC) by Platinum Equity portfolio company American Traffic Solutions (ATS). Financial terms of the transaction were not disclosed, but certain seller shareholders will become shareholders of the combined group.
Euro Parking Collection plc (EPC) specializes in the identification, notification and collection of unpaid traffic and public transport related fees, charges and penalties issued to foreign registered vehicles or rental vehicles with foreign or non-resident hirers (FRV) across Europe. These include parking, road tolls, and congestion and traffic penalties.
Platinum Equity Partner Jacob Kotzubei said this acquisition will expedite ATS’ entry into the European market while leveraging the combined expertise of both companies.
“We see tremendous opportunity in European fleet and rental car toll and violation management,” said Mr. Kotzubei. “EPC provides similar services to European municipalities and toll authorities as ATS provides to its North American customer base. This acquisition will pave the way for additional international expansion.”
“EPC is more than excited to join the ATS team,” said EPC Chairman Erik Langaker, “The similarities in our businesses and the complementary aspects of our solutions are the key drivers of this transaction. I feel confident that this alliance will add to our value proposition in the European market and ensure that our customers will be able to handle their regulatory obligations in an efficient, balanced and fair way.”
Arizona-based American Traffic Solutions is a leading provider and market leader of toll and violations management solutions and road safety cameras throughout North America. Annually, ATS processes more than 130 million tolls and over 2 million violations on behalf of its fleet and rental car partners and conducts on average, nearly 150,000 automated title and registration transactions monthly.
ATS also has more than 4,000 installed school bus stop arm, red-light and speed safety cameras serving more than 30 million people across the United States and Canada.
“ATS is excited about this acquisition,” said David Roberts, ATS CEO. “Bringing together these two companies provides a great opportunity for us to expand our offerings and add value for our customers, while at the same time providing a platform for us to grow internationally. We look forward to welcoming EPC to the ATS family.”
