JustPark has been sold to ParkHub, a portfolio company of LLR Partners and FTV Capital

JustPark

JustPark, established in 2006, is one of the UK’s leading app-based parking reservations technology and payments platforms, parking a car every two seconds. With 13 million drivers and more than 250,000 spaces – including 50,000 residential spaces and some of the UK’s biggest councils and car parking companies, JustPark markets and monetizes both unused driveways and car park capacity, benefitting drivers and creating revenue for space owners. Their investors include Index Ventures, Verdane, LocalGlobe, Itochu and 10,000 retail investors via Crowdfunding.

The Deal

The combination of JustPark and ParkHub creates a full-service parking software and payments solution for customers across North America and the UK. As part of this transaction, ParkHub secured a strategic growth investment led by FTV Capital with participation from existing investor, LLR Partners. Lincoln International served as the exclusive sell-side adviser to JustPark and partnered closely with the management team, aligning efforts to execute a successful transaction. Leveraging Lincoln’s exceptional process execution, JustPark was well-prepared for the transaction and found the right partner for its next phase of growth. Through its partnership with ParkHub, JustPark is poised to accelerate growth in the expanding parking software and payments market.

“After 18 years at the forefront of transforming parking experiences for millions, our merger with ParkHub catapults JustPark to new heights,” Anthony Eskinazi, Founder and Chief Executive Officer of JustPark, commented. “Our dedication to improving the parking experience for drivers continues, and with our cutting-edge technology and unrivalled support, we’re set to revolutionize parking for our customers and partners both here in the UK, and now also in North America.”

Our Perspective

Dil Kunnummal, Lincoln International Director who co-led the transaction, commented, “It was a pleasure to work with the remarkable management team of JustPark. The accomplishments achieved by JustPark’s management team, particularly its leading parking reservations and mobile payments capabilities, have been impressive. We are excited to follow the company’s continued cross-border success with ParkHub as they bring extensive industry knowledge and vast experience in the parking software and payments market.”

ParkHub

ParkHub is the leading integrated software, payments and data insights provider for the North American market. ParkHub solutions include multiple payment options, real-time operational data, robust performance analytics and dynamic pricing. It is the industry leader in seamless integrations with the nation’s renowned ticketing and parking reservation providers.

LLR Partners

LLR Partners is a private equity firm investing in technology and healthcare businesses. The firm collaborates with its portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $6 billion raised across seven funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts.

FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services and payments and transaction processing. Founded in 1998, FTV Capital has invested in 140 portfolio companies, including Kore.ai, LoanPro and ReliaQuest, and successfully exited / partially exited companies including CardConnect (acquired by First Data), Globant (NYSE: GLOB), Strata Fund Solutions (acquired by Alter Domus) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco, New York, Connecticut and London.

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