Armstrong supports Sovereign’s Premier Park as it makes another bolt-on acquisition

Armstrong has provided CDD support for car park management operator Premier Park’s acquisition of Park Watch. This is Premier Park’s third bolt-on acquisition since Sovereign’s original investment in 2019, which was also supported by Armstrong.

Established in 2012, Park Watch provides car park management solutions to private car parks in the UK. Based in Cheshire, the business manages sites for a range of enterprise, property management agent, and SME clients and strengthens Premier’s North West presence. In 2019 Premier Park acquired UK Car Park Management (UKCPM), one of the UK’s largest providers of car park management solutions and Automatic Number Plate Recognition (ANPR) services to enterprise and SME customers. This was followed by the acquisition of Stafford-based iView, a proprietary software business which provides ANPR processing capability to the wider parking sector.

The acquisitions have built the Group to become an integrated and scaled car park management business delivering an end-to-end service with market leading proprietary technology and internal processing capabilities. This latest acquisition takes the total number of sites under management across the UK to over 7,000 and brings the number of staff to c.160.

Continued growth will be driven by both organic and acquisitive growth, under the leadership of Paul Dawson. Paul’s prior experience was at Capita plc, including as CEO of ParkingEye – another former CDD subject of Armstrong’s.

For further details of this transaction please contact;

Simon Hemsley, Head of Business Services, 07957 340 534 or shemsley@armstrong-ts.com

Peter Cookson, 07871 425 467, pcookson@armstrong-ts.com

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