TIIC completed the acquisition of a 40% stake in Parcheggi Italia from Best in Parking Group.

TIIC, a pan-European infrastructure firm investing into mid-market infrastructure projects in both the transportation and social sectors, completed the acquisition of a 40% stake in Parcheggi Italia, an operator of parking lots, from Best in Parking Group, a constructor and operator of parking space. Financial terms were not disclosed. "We are very pleased with our investment in a long-term, high-quality and well-managed portfolio, located in a key market for us. We look forward to working with the management team and Best in Parking Group, leveraging TIICS significant sector experience. The further development of this state-of-the-art platform will also be a unique vehicle to contribute to the diversification of offer and city management solutions to local authorities," Manuel Cary, TlIC CEO.