Strategic alliance between Atlantia and Partners Group for Telepass

17 October 2020

Strategic alliance between Atlantia and Partners Group to create, through Telepass, a European leader in the world of digital payments for mobility.

Today Atlantia signed a contract for the sale of 49% of the capital of Telepass to the global private equity manager Partners Group AG, on behalf of its management funds. The purchase of the equity investment amounts to 1,056 million euros. The completion of this transaction is subject to the normal authorizations and conditions required for this type of operations and is expected by the first half of 2021. Atlantia will retain control of the company which therefore will continue to be included in the consolidation area of the Atlantia Group.

Following this transaction, Partners Group and Atlantia will work closely with Telepass on a series of strategic initiatives to accelerate the growth of the current business and to develop the platform Europe-wide. The key elements of this journey will be the consolidation of the Electronic Tolling Collection (ETC) market through both organic growth and acquisitive expansion; the strengthening of "one-stop" payment solutions not only for consumer clients, but also for the new corporate sector; the growth of the insurance business through the development of innovative policies; all of it with continuous attention to ESG initiatives in cooperation with emerging European smart cities, helping to streamline multimodal transportation and reduce CO2 emissions.

Telepass is already leader in Europe in the electronic toll collection services with 7 million customers and over 12 million circulating devices, a platform that manages transactions for over 7 billion euros every year in the 14 European countries in which it operates and that covers over 105,000 kilometers of motorway networks. In recent years, Telepass has supplemented its basic electronic toll collection service with additional services linked to new mobility solutions, such as cashless payments for fuel, parking, taxis, and shared mobility services, as well as related insurance products and digital payment services. Telepass has thus positioned itself as one of the leading providers in the mobility payments sector. Telepass's core business ensures stable cash flows over the long term, supported by a highly loyal customer base. Thanks to the potential for growth of the new mobility services and the developed insurance platform, Telepass is well positioned to seize the opportunities linked to the growing trends within fintech, insurtech, and data enhancement, thanks also to the strategic contribution of the new partner.

Partners Group, with over USD 96 billion in assets under management and over USD 135 billion invested in "private markets" globally on behalf of its customers, employs a total of 1,500 professionals in 20 offices and is listed on the Swiss Stock Exchange (SIX). The company serve a wide range of institutional investors, sovereign wealth funds, family offices and individuals at global level.

In the transaction Atlantia was assisted by Goldman Sachs, Intesa Sanpaolo/Banca IMI and Mediobanca - Banca di Credito Finanziario as financial advisor, by Studio Bonelli Erede for the contractual aspects and by Studio Gianni Origoni Grippo for the aspects of due diligence on Telepass.

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