DWF Advises Q-Park in €1.1billion Refinancing Package
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Nic Crocker
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Date: 25/11/11
Business law firm, DWF, has helped Q-Park secure a €1.1billion credit facility that will enable the company, which has its UK headquarters in Leeds, to grow significantly across the UK and Europe.
Q-Park is part of the Holland-based Q-Park Group which owns, operates and manages parking facilities across ten European countries with a portfolio spanning across the Netherlands, Germany, Belgium, France, Norway and Great Britain, and it is hoped that the refinancing deal will help the group realise its long-term international investment plans.
The credit facility is provided by an international bank syndicate of 11 European banks, and DWF acted on behalf of the independent company in completing the English aspects of the transaction.
For a number of years DWF has supported Q-Park on a variety of agreements and transactions. Earlier this year, the law firm advised the parking provider in its high profile and successful bid to take over 14 car parks in central London from Westminster Council on 25 year leases.
Nic Crocker, national head of real estate at DWF, said: “We’ve had a strong working relationship with Q-Park for more than a decade and we’re pleased to have supported the team in this major refinancing deal. With the additional funding, Q-Park will be able to continue to develop across the UK and Europe.”
Adam Bidder, managing director of Q-Park Great Britain, commented: “This package will help encourage a sustained period of growth, allowing us to improve customer care even further. By refinancing we can concentrate our efforts on generating momentum for domestic and international expansion. DWF has always been an integral part of our successes, and this transaction was no exception.”
