Non-public fairness firm Bridgepoint Group has agreed to purchase a majority stake in site visitors and transport software program maker PTV Group from mother or father Porsche SE for an undisclosed sum.
Porsche SE, the biggest shareholder in Volkswagen , mentioned it will hold a 40% stake within the unit, whose software program is being utilized by greater than 2,500 cities and municipalities worldwide.
“It’s Bridgepoint’s elementary purpose to spend money on profitable, sustainable firms in development markets,” mentioned Carsten Kratz, accomplice and head of Germany, Austria and Switzerland at Bridgepoint.
“With PTV, we are actually gaining a number one world firm for our portfolio that allows cities, municipalities and different organizations to fulfill the social, environmental and financial calls for of our time.”
Kratz additionally mentioned PTV could be a platform to make additional acquisitions within the subject of sensible mobility administration and to develop inorganically.
Within the final monetary yr PTV’s working revenue stood at 5.3 million euros ($6.2 million) on gross sales of 108 million euros. It employs roughly 900 workers.
“With Bridgepoint and their buy-and-build experience, we now have now discovered the correct accomplice to guide PTV along with the administration workforce … into a really profitable future,” Porsche SE board member Lutz Meschke mentioned.
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