We are proud to share the news of our client, TIBA Parking Systems, that has been acquired by FAAC, an Italian multinational leader in the sector of parking revenue management, transportation and vehicle and pedestrian access control, for a total amount of approximately USD 159M (including dividends paid).
TIBA designs, develops and sells cutting-edge solutions for off-street parking revenue management and access control and is the market leader in the US market. The acquisition has a strong strategic value for FAAC and will allow it to intensify its penetration into the US market and globally.
Acting for TIBA and its principal shareholders, Tene Capital and Afcon, was our skilled team of partners and associates, Ofer Manor, Eyal Gilboa, Maya Malin, Roni Lifshitz, and Gal Ezrach.
TIBA CEO, Moshe David commented “The Shibolet team, headed by Ofer Manor and Eyal Gilboa, were a key factor in the acquisition process and the success of this transaction.”
