Global parking operator Indigo Group and private investment firm Ardian have launched a new Canadian parking asset management firm based in Montreal.

The joint-venture named Clermont, is aimed at accelerating investment in Canada’s parking infrastructure.

Under the agreement, Indigo will contribute its Canadian property portfolio to the newly formed entity while continuing to operate those assets through Indigo Park Canada. Ardian will focus on supporting Clermont’s efforts in sustainability and digital innovation, with both partners planning to deploy long-term equity to acquire additional parking assets, leases, and concessions.

Operational management of these assets will remain with U.S.-based Indigo.

Clermont will be led by Gordon Craig, an industry veteran with nearly three decades of experience, including executive roles at Imperial Parking (Impark.)

This venture builds on a longstanding collaboration between Indigo and Ardian, which began in 2014. The transaction will be executed through the Ardian Americas Infrastructure Fund V and aligns with Ardian’s broader infrastructure strategy across the Americas, said the French company, which expanded into Canada through the opening of a Montreal office since 2023.

Clermont formation was completed by a team of legal, financial, and advisory firms, including Gibson Dunn, Fasken, Deloitte, and BTY Group.

Photo: Indigo Group