EPIC to acquire 17.49% stake in Moto International for £19.7 million
Equity Partners Infrastructure Company Limited (EPIC) has agreed to acquire a 17.49% stake in Moto International Holdings Limited for a consideration of £19.7 million.
The deal marks the second UK investment for Epic, after the fund bought stake in water management company Thames Water in 2007.
Reports suggest that the deal was finalized due to directors of Epic, which had been impressed by Moto's strong management team and its proven track record of business growth.
Moto is the leading motorway service area (MSA) operator in the UK, with 64 sites and 38 per cent market share. The company provides UK motorists with essential 24/7 refueling services, parking and bathroom facilities as well as food and retail outlets.
Moto operates under an established, stable regulatory regime which ensures motorists have access to adequate services at well located MSAs to maximise safety and prevent congestion.
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