Background

  • Based in London, YourParkingSpace is one of the UK’s leading parking reservation platforms and provider of intelligent parking solutions.
  • YourParkingSpace’s proprietary technology already markets over 80,000 bays in the UK from private landlords through to operators including Tesco, Morrisons and Premier Inn.
  • YourParkingSpace was seeking a financial sponsor to support the next phase of its growth strategy.

Process

  • DC Advisory (DC), was engaged by Pelican Capital (Pelican) to provide buy-side M&A advice on its investment in YourParkingSpace.

Outcome

  • The investment by Pelican is expected to create 40 new jobs over the next twelve months across the technology, marketing and sales teams. This will double the company’s employee base, creating jobs in both London, and in a new office in York.
  • The investment in sales and marketing will target both new commercial customers and the expansion of services with current clients.
  • This is the second time DC has worked with the principals at Pelican on a tech-enabled parking solutions transaction.
  • The financial terms of the deal were not disclosed.

 

We’re delighted to have advised Pelican Capital on their investment in YourParkingSpace. The transaction highlights the continued appetite for growth-focused funds to invest in tech-enabled parking solutions. The sector continues to evolve, embracing new technologies to optimise processes, improve customer service and open new market opportunities. We're confident that with Pelican’s proven sector track record, Harrison Woods and the team at YourParkingSpace will continue their strong growth trajectory. It was a pleasure to again work with Anthony Francis and Richard Morrison at Pelican.

Amish Bakhai
Executive Director, DC Advisory