Palladian Backs MBO of Intelli-Park

Palladian Investment Partners LLP is pleased to announce it has backed the management team of Intelli-Park, a leading UK provider of parking technology and management services, in a buyout from its founder. The transaction is valued at over £120 million, inclusive of earn outs, and marks the second investment for Palladian.

Intelli-Park’s intelligent parking solutions help real estate owners to manage and optimise their car park sites. In recent years the company has undergone a digital transformation, offering its customers a tech-enabled tool kit of mobility services which offers greater insights, convenience and efficiency. Founded in 2004, today Intelli-Park’s 270+ employees manage over 2,000 sites across the UK, with blue-chip clients including McDonalds, Savills, JLL and Cushman & Wakefield. The company has recently expanded its operations into Germany. 

The buyout, in which Palladian has acquired a majority stake in Intelli-Park, sees the management team, led by co-CEOs Ben Cooke and Jeff Harrison, remain at the helm.

The backing from Palladian will enable Intelli-Park to further enhance its technology and service offering, accelerate the roll-out of EV charging infrastructure across its estate and undertake acquisitions in the UK and Europe. As part of this transaction Vecturis Equity GmbH, a German fund focused on mobility services, has acquired a minority stake in the business alongside Palladian.

Solano Partners acted as the exclusive financial advisor to Intelli-Park and its shareholders on the transaction.

Doug Oppenheim, a partner at Palladian, said: "In recent years Intelli-Park has achieved a well-earned position as an innovator at the forefront of the parking management market, providing its customers with the digital tools and services to operate their parking assets and enhance their own customers’ experience. We are thrilled to be collaborating with the management shareholders led by Ben Cooke and Jeff Harrison and look forward to supporting the team to continue Intelli-Park’s growth over the coming years."

Ben Cooke, Group Co-CEO, Intelli-Park, commented: "We are excited to be partnering with Palladian. This buyout will enable us to accelerate innovation and provide best-in-class technology solutions to our customers. Palladian’s long-term outlook and their experience in digital transformation, M&A and supporting businesses grow in Europe made them a natural choice for us as we look to the future."

Debt facilities to support the acquisition were provided by Pricoa.

Palladian was advised by Osborne Clarke and Paul Hastings (legal), Cortus Advisory (financial), EY (tax), KPMG (debt advisory) and GK Strategy (regulatory). Intelli-Park was advised by Solano Partners (financial advisory), Pinsent Masons (legal), PWC (financial) and CiL (market).