Commercial due diligence for the investment in a car parking company

VTM was appointed by TIIC Advisor SAS to perform a commercial due diligence relation to an investment, by way of share capital increase representing a minority stake, in Placegar – Gestão de Estacionamentos, Lda, the 4th largest car parking player in Portugal, with operations both on-street and off-street of over 15,500 spaces, mainly located in Lisbon (including metropolitan area). Placegar also operates in Porto and in Penafiel.

The commercial due diligence included the analysis of the Seller’s business case from 2022 until 2050, a review of the contractual agreements for all car parks under control of Placegar assessing topics like timeframes, tariff updates, costs, and any other issues the Client deemed as relevant to make an informed decision, and in-depth competition analysis of each car park, assessing the level of competition depending of their location, existence of other car parks or on-street offering, etc.. VTM also produced an opportunities / risk matrix analysis of the investment based on our experience working with these assets.

VTM’s work provided extra-assurance to the Client regarding this particular investment, as well as for the bank(s) whom TIIC was partnering with. The Client end-up reaching an agreement with Placegar’s shareholders to invest in the Company.