Gibson Dunn & Crutcher has taken a lead role on the €885m (£595m) sale of European parking company APCOA to Eurazeo. The US firm advised APCOA's seller, Investcorp, on the deal, which was announced last week (19 February).

Eurazeo was one of a number of bidders competing for APCOA in an auction process lasting several months. Rival bidders are thought to have included UK car park operator NCP and Macquarie Bank, as well as buy-out house Bridgepoint.

Gibson Dunn ran two teams for Investcorp. The first, comprising Munich partners Philip Martinius (corporate) and Michael Walther (competition) and Paris corporate partner Benoit Fleury, advised Investcorp on the winning bid from Eurazeo.

The other, led by London corporate partners Paul Harter and James Barabas, advised Investcorp in relation to one of the rival bids. Investcorp relationship partner Harter coordinated the teams. Gibson Dunn also advised Investcorp on its acquisition of APCOA in 2004.

Eurazeo was advised by Bredin Prat in Paris, with M&A partner Sebastien Prat leading the team.

Hengeler Mueller partner corporate Achim Herfs led the team advising Eurazeo in Munich on a transaction that was conducted under German law.

Fleury told Legal Week: "A lot of private equity players are investing in parking, toll roads and infrastructure because you get a mix of stable and growing revenues. It is a bit like holding a bond – their revenues should grow steadily."

APCOA manages more than 3,300 car parks in 13 countries, including Germany and the UK as well as across Scandinavia.

Eurazeo has significant stakes in companies including Rexel, Danone and Veolia. Last year, it bought Volkswagen's rental car unit Europcar for €3.1bn (£2.1bn). Bredin Prat also led the team advising Eurazeo on that transaction.