Watrium has merged Euro Parking Collection Plc (EPC) into American Traffic Solutions (ATS) in a deal that will facilitate further growth and global expansion.
Watrium became the majority shareholder of EPC in 2016 together with Erik Langaker of Vestland Invest. Since then, EPC has experienced significant growth in revenue and earnings. Watrium and Vestland Invest stay committed to the investment and will remain a minority shareholder in the combined group. Financial terms are undisclosed.
EPC specializes in the identification, notification and collection of unpaid traffic and public transport related fees, charges and penalties issued to foreign registered vehicles or rental vehicles with foreign or non-resident hirers across Europe. These include parking, road tolls and congestion & traffic penalties.
Arizona-based ATS is a leading provider of road safety cameras and toll and violations management solutions throughout North America. ATS’s Fleet Services business is a market leader in both toll and violation management solutions to fleets and rental customers. Similarly ATS Safety business has more than 4,000 installed school bus stop arm, red-light and speed safety cameras serving more than 30 million people across the United States and Canada.
ATS is owned by Platinum Equity. Platinum Equity partner Jacob Kotzubei said this acquisition will expedite ATS Fleet’s entry into the European marked and leverage the combined expertise of both companies across all markets.
“We see tremendous opportunity in the European fleet and rental car toll and violation management”, said Mr. Kotzubei. “EPC provides similar services to the European municipalities and toll authorities as ATS provides to its North American customer base. This acquisition will pave the way for international expansion.”
“EPC is more than excited to join the ATS team”, said EPC Chairman Erik Langaker. “The key similarities in our businesses and the complementary aspects of our solutions are the key drivers of this transaction. I feel confident that this alliance will add to our value proposition in the European market and ensure that our customers will be able to handle their regulatory obligations in an efficient, balanced and fair way.”