Cavendish picks up car-parking tech firm
- In PropTech
- 11:51, 27 March 2019
- 606 Views
UK mid-market M&A firm Cavendish Corporate Finance has advised Inflexion Private Equity on its successful buyout of Creative Car Park Limited (CCP), a digital car-parking services business.
Financial details were not disclosed. The investment is being made by Inflexion Buyout Fund V, Inflexion’s mid-market fund.
According to Cavendish, London-based CCP was the UK’s first car park operator to offer a fully automated number plate recognition technology enforcement service, and its low-cost installation model makes it highly scalable. The company employs 85 people and is an approved member of the British Parking Association.
John Farrugia, partner and head of technology at Cavendish, commented: 'We are delighted to have advised Inflexion Private Equity on its buyout of CCP. Inflexion, with its track record of helping business accelerate their expansion and better serve their customers, is definitely the right partner for CCP at this stage of its growth.
'To be the buyside adviser on the deal is a reflection of the strength and in-depth sector knowledge of our team as well as our corporate finance skills. This is our first buy side transaction and we look forward to completing further such deals drawing on our deeper resources and expertise as part of finnCap Group plc.'
Cavendish recently merged with finnCap, creating a services platform for UK entrepreneurs and growth businesses seeking to scale up for expansion.
Added Simon Abraham, CEO of CCP: 'The team’s hard work has helped build a company with double-digit annual growth rates, and we look forward to accelerating this growth further with Inflexion’s backing. They impressed us with their proven ability to help businesses grow faster, organically and via acquisition.'