Agena Group

Sovereign's investment journey with Agena Group began in May 2019 with the investment in Premier Park, a company founded in 2005 and known for its customer-centric approach to car park management. Recognising the company's potential in a fragmented sector with increasing demand, we identified it as the ideal foundation on which to build a leading UK car park management group.

With the business at an attractive scale, the founders partnered with us to de-risk their position while maintaining an equity stake in the company's future. We immediately strengthened the leadership team, appointing CEO Paul Dawson and Chairman Andy Parker, both bringing valuable executive experience from Capita. This experienced management team, positioned alongside Sovereign's expertise, was set to guide Premier Park through its next ambitious growth phase and execute on a strategic acquisition plan.

Strengthened the leadership team, appointing CEO Paul Dawson and Chairman Andy Parker, both bringing valuable executive experience from Capita, and created a sector-leading advisory board.

Transformed the business from managing 840 sites to over 5,000 car parks nationwide across residential, health, education, leisure, and retail sectors - a sixfold expansion in footprint.

Achieved carbon-neutral certification in 2023, becoming the sector's first operator to reach this milestone six years ahead of schedule.

Developed proprietary ANPR processing technology and advanced data analytics capability, capturing millions of parking sessions monthly and transforming into a fully tech-enabled operation.

Grew workforce by over 350% and increased revenue by more than 460% during the investment period.

Following Sovereign's investment, the company embarked on an ambitious Buy & Build plan. In just 18 months, the group completed three transformative acquisitions – UK Car Parking Management (UKCPM), iView, and Park Watch – which significantly expanded its geographical reach and service capabilities. This rapid consolidation led to the rebranding as Agena Group.

Technology and data analytics became central to Agena's growth strategy. The acquisition of software business iView provided proprietary ANPR processing capability, and subsequent investment accelerated the development of Agena's software platforms. The business now captures millions of parking sessions monthly, generating valuable insights while efficiently collecting revenue for clients. With Sovereign's support, Agena implemented real-time KPIs and analytics capability, becoming a fully tech and data-enabled operation.

Environmental and social responsibility emerged as a key differentiator for Agena. In 2023, the company became the sector's first operator to achieve carbon-neutral certification—six years ahead of schedule. With our guidance, Agena created a sector-leading ESG strategy that not only aligned with its values but provided a genuine competitive advantage in winning new business.

By the time of our exit, Agena's transformation had been remarkable. The company expanded its footprint more than sixfold, from managing c. 840 sites to more than 5,000 car parks spanning residential, health, education, leisure, and retail sectors nationwide. The workforce grew by more than 350%, while revenue surged by over 460%. Beyond these impressive metrics, we supported the creation of a sector-leading advisory board that included former MPs, a prominent accessibility rights campaigner, and an experienced technology executive.

Today, Agena stands as the leading tech-enabled parking operator in the UK, demonstrating how Sovereign's strategic approach to investment can help great businesses become exceptional.