Disposal of a 49% stake in Telepass S.p.A. (“Telepass”) to the global investment manager Partners Group (“PG”), where Mediobanca acted as sell-side financial advisor to Atlantia.
Telepass is the European leader in Electronic Toll Collection (ETC) services, with ca. 7m customers and over 12m devices in circulation, active in 14 European countries and covering over 105,000 kilometers of motorway networks.
In recent years, Telepass positioned itself as one of the reference operators for payments in the mobility sector, supporting new styles of mobility through cashless payments for fuel, parking and shared mobility services.
The strategic alliance between Atlantia and PG on Telepass gives birth to a European leader in the market of digital payments for mobility.
Following the transaction, Atlantia and PG will work closely with Telepass to accelerate the company’s growth in the core business and to develop its platform on a pan-European level through organic growth and acquisitions, helping to optimize multimodal transport and reduce CO2 emissions in cooperation with European smart cities.
PG winning bid, selected in the context of a competitive process involving top-tier global financial sponsors values Telepass over €2bn, for an implied EV/EBITDA 2019 of ca. 17x.
Mediobanca played a crucial role in the transaction, being recognized as reference sell-side advisor by PG and actively supporting the discussions with its client throughout the whole process.
The transaction is the result of a successful joint effort among Transport & Infra, FIG and Financial Sponsors coverage confirming once again Mediobanca’s unparalleled capabilities in the Infrastructure space as well as an undisputed expertise in the paytech sector, and further strengthens its relationship with Atlantia, being the advisor of choice in all recent sell-side mandates.