The combined entity of American Traffic Solutions, Highway Toll Administration and Watrium-owned Euro Parking Collection has rebranded to Verra Mobility and announced that the company will perform a reverse listing on NASDAQ through a merger with Gores Holding II. Upon closing, the transaction will introduce Verra Mobility as a publicly listed company, with an anticipated initial enterprise value of approximately $2.4billion, or 11x the company’s estimated 2018 pro-forma adjusted EBITDA of approximately $219 million.
Watrium is a minority shareholder in Verra Mobility.
Verra Mobility is the leading global provider of tech-enabled smart transportation solutions. The Company develops technology-enabled solutions that help the world move safely and easily. The Company serves the world’s largest commercial fleets and rental car companies to manage tolling transactions and violations for more than 8.5 million vehicles. Verra Mobility is a leading provider of connected systems, processing nearly 165 million transactions each year through connectivity with more than 50 individual tolling authorities and more than 400 issuing authorities. Verra Mobility fosters the development of safe cities, working with police departments and municipalities by operating more than 4,000 red-light, speed, and school bus stop arm safety cameras. Arizona-based Verra Mobility Corporation currently operates in 15 countries and in 18 languages.[/vc_column_text][/vc_column]