Sovereign backs car park management solutions business Premier Park
Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to announce that it has backed Premier Park, a leading provider of car park management solutions.
Sovereign will work with the management team to grow the business both organically and through strategic acquisition to meet the increasing demand for its services.
Based in Exeter, Devon, Premier Park installs and manages Automatic Number Plate Recognition (ANPR) cameras for its UK SME and corporate customers’ car parks to monitor usage, prevent abuse and ensure legitimate users have parking access. Other parking services include managing payments and patrol services. The business currently operates over 840 sites throughout the UK.
Sovereign is backing founders Steve Garratt and Steve Pettit who are joined by the newly appointed Group CEO, Paul Dawson. Paul spent the last c.15 years working at Capita plc where he held various senior management roles including CEO of ParkingEye. Andy Parker, the highly experienced former Group CEO of Capita plc joins the business as non-executive Chairman.
Jeremy Morgan, Partner, Sovereign Capital Partners commented: “We are delighted to be backing such a strong management team in this specialist market. Premier Park has established itself as a first class operator and enjoys a very loyal client base due the breadth and quality of bespoke services delivered. We look forward to working with the team to develop and grow the business organically and through carefully selected acquisitions.”
Paul Dawson, CEO, Premier Park: “I’m delighted to join Premier Park at this exciting time. This is an evolving market influenced by an increasing demand for spaces and the evolution of electric vehicles - consumers are constantly looking for an improved experience and ease of access. We are well placed to develop the business by broadening our service proposition and continuing to deliver the efficiency and customer satisfaction this business is recognised for.”