Lawyers at international law firm Osborne Clarke in Bristol have advised on the £120m management buyout of a UK firm that develops technology systems for car parks.
London-based independent funder Palladian Investment Partners has acquired a majority stake in Intelli-Park through the deal, with Vecturis Equity GmbH, a German fund focused on mobility services, taking a minority holding.
Founded in 2004 and headquartered in Coventry, Intelli-Park’s intelligent parking systems help real estate owners manage and optimise their car parks.
It employs more than 270 employees who manage 2,000-plus sites across the UK for blue-chip clients such as McDonalds, Savills, JLL and Cushman & Wakefield. The company recently expanded into Germany.
Intelli-Park’s management team, led by co-CEOs Ben Cooke and Jeff Harrison, said the buyout would further enhance the company’s technology and service offering, accelerate the rollout of EV charging infrastructure across its estate and allow it to make acquisitions in the UK and Europe.
The Osborne Clarke team assisting Palladian was led by corporate partners Alisdair Livingstone and James Taylor, supported by associate director James Mackay, associate John Annan and trainee solicitor Tundun Basorun.
Advice on financing was provided by partner Tom Bussy, associate director Daniel Barnhouse and associate Sarah Yeo.
Additional support was also provided by senior associate Johnny Squires (tax), associate director Nick Haywood and associate Dan Charie (employment) and partner Anika Chandra and associate Rhiannon Jones (incentives).
The buyout is the latest in a string of deals handled by Osborne Clarke’s Bristol office in the mobility sector.
