GREYKITE has agreed a deal to acquire a controlling stake in TP Network, an industrial outdoor storage (IOS) platform operating safe and secure truck parking areas (SSTPAs) across Europe, for an undisclosed price.
Developed in 2022 by Padrosa Group and TIIC, who will remain shareholders via the Edmond de Rothschild private equity infrastructure strategy, the TP Network platform, which operates under the NECTION brand, will be further scaled with the entry of GREYKITE alongside new partner JV20.
The TP Network portfolio comprises seven strategically located SSTPAs across Spain, France, Italy and the Netherlands. Complemented by an 11-asset development pipeline in Germany, France, Austria and Italy, including five advanced-stage projects, TP Network is targeting approximately 40 sites with a value of more than €600m.
Michael Abel, founder and CEO of GREYKITE, said: “TP Network represents a landmark initiative to close a vital infrastructure gap across Europe. With demand for secure parking rising due to regulatory shifts and systemic undersupply, we are building a scalable, differentiated IOS platform that we believe will provide a strong outcome for our investors while supporting the freight economy and driver welfare. We are excited to partner with TIIC, Padrosa, and JV20 to leverage their long-standing platform and infrastructure expertise and be an early mover in this nascent, compelling IOS truck parking sector.”
Manuel Cary, CEO and partner at TIIC, added: “Safe and secure truck parking is a critical component of Europe’s mobility infrastructure. TP Network’s focus on strategic locations and driver-centric amenities addresses a clear market gap, while the platform’s scalable, future-ready model also responds to increasing ESG priorities across the logistics sector. We are proud to support, via the EdRPE Infrastructure strategy the platform’s next phase of growth alongside GREYKITE, JV20, and Padrosa Group.”
Pere Padrosa Pierre, president of Padrosa Group, said: “The network of secure truck parks that we are building is an infrastructure of general interest for mobility and the supply of goods in Europe. With them, we address pending sector challenges, such as the well-being of drivers; present, such as the energy transition and digital transformation; and future, such as the autonomous driving of heavy vehicles. It is a global solution for ESG priorities and the fulfilment of the sustainability and the need to make operations of the transport sector efficient. The partnership with GREYKITE, JV20 and TIIC strengthens the development and growth of the project.”
Juan Velayos, managing partner of JV20, added: “Partnering with GREYKITE on this transaction reflects our shared vision for investing in high-potential real estate platforms with strong fundamentals. GREYKITE brings deep sector insight and institutional rigor, making them an ideal complement to TIIC and Padrosa Group, who have impressive experience in this space. Together, we are excited to scale a business that sits at the intersection of infrastructure, logistics, and operational resilience.”
Telam Partners advised the current shareholders on the transaction.
