Sale share stake Yellowbrick International to Flowbird Group
June 7, 2019
Yuno Advisors advised the Dutch company Waysis concerning the sale of its remaining share stake in Yellowbrick International, a leading international mobile parking solutions provider located in Amsterdam, to its French co-shareholder and strategic partner Flowbird Group (previously Parkeon).
Waysis is market leader in the Netherlands in the field of “on street” parking solutions and enforcement. The operating company Taxameter Centrale offers on-street parking solutions and Brickyard develops enforcement solutions and innovative software for off-street parking environments such as parking garages and parking lots. Furthermore, Waysis founded Yellowbrick in 2006, and was thereby one the first companies in the world to become active in “Real Time Parking” (RTP) solutions. With in-house developed software solutions it made parking payments possible through mobile interfaces on a real time basis.
Flowbird Group is a French private company with its head office in Paris, and can pride itself as world market leader in in the field of urban mobility and smart city solutions. After the acquisition of the Swedish company Cale by Parkeon in 2018, the group merged into Flowbird Group. Formerly, Parkeon was a division of Schlumberger, and after a split-off was subsequently owned by private equity parties Apax Partners, Barclays Private Equity and Intermediate Capital Group (ICG). Since 2016, Flowbird has been part of the portfolio of Astorg Partners. With activities in more than 4,000 cities in no less than 60 countries, €340 million net sales in 2018 and over 1,300 employees, Flowbird has built a leading international position.
In view of the vast development of digitalization of payment solutions, and opportunities on the international markets of paid parking and RTP, Waysis and Flowbird already joined forces in 2014 by creating the joint venture Yellowbrick International. Yellowbrick International is located in Amsterdam with a specialised and growing team of experts, and is focused on further development of the RTP platform and international roll-out. Following the integration of the Dutch activities of Yellowbrick in the international Joint Venture in 2017, the current sale of its remaining stake by Waysis is the logical next step in order for Yellowbrick International to focus on further growth of its activities within the internationally operating Flowbird Group.
Following the previous transactions in 2014 en 2017, Yuno Advisors also advised Waysis in realising this transaction. Our advisory included the valuation, deal structuring and deal negotiations, making a letter of intent and – together with Van Doorne lawyers – drafting of the final transaction documentation.
Click here to view the original press release by Waysis & Flowbird Group.