Acquisition of Peak Parking in America
2 APR 2025
Smart Parking enters the US market with the acquisition of Peak Parking
Smart Parking acquires Peak Parking and expands into the US market. Smart Parking, the leading provider of parking technology and management services, has recently announced the acquisition of Texas-based Peak Parking, thereby increasing its parking footprint.
Acquisition overview:
- Compelling strategic fit; building global scale
- The acquisition adds 134 new customer sites to the managed portfolio
- Peak Parking currently focuses on parking garage management, valet parking, special events parking, enforcement services and consulting services
- Transaction purchase price of USD $36m funded from existing cash reserves, debt, SPZ shares and an equity raising of AUD$45m
Smart Parking Limited (ASX:SPZ) is pleased to announce the acquisition of Peak Parking, a Texas-based company founded in 2016. Peak manages 134 sites across multiple states in the US. The business currently offers a mix of parking garage management, valet parking, special events parking, enforcement services and consulting services.
With this acquisition, Peak Parking will benefit from Smart Parking’s market-leading proprietary technology and deep domain expertise. This action solidifies Smart Parking’s position as a key player in the worldwide parking industry.
