Patria Investments-backed PareBem to merge with Indigo Group.

Patria Investments-backed PareBem, a provider of parking lot operation and management services, agreed to merge with Indigo Group, a global car parking and individual mobility operator. Financial terms were not disclosed. With this complementary partnership, Indigo Group is pursuing its growth strategy in its core business in Brazil, enriching its long-term portfolio by expanding its geographic presence and integrating car parks especially in Sao Paulo, Porto Alegre, Rio de Janeiro, Fortaleza and Curitiba, and entering on-street parking services. The combined entity will operate the car parks under the INDIGO brand and will increase its ability to compete in local markets.