Sovereign backs leading provider of car park management solutions Premier Park Read more

  • Status: Current
  • Date: May 2019
  • Sector:
    • Business Services

www.premierpark.co.uk

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Premier Park

Premier Park is a leading provider of car park management solutions. Sovereign is working with the management team to grow the business both organically and through strategic acquisition to meet the increasing demand for its services.

Investment Background

Premier Park was established in 2005 by Steve Garratt and Steve Pettit who had identified a demand for automated and professional car park management solutions. The business grew to become a scaled parking operator with a national footprint and reputation for efficiency and outstanding customer service.

With the business at an attractive scale, Steve and Steve decided to partner with Sovereign to allow them to de-risk, source a highly experienced management team who could guide the business through its next phase of growth, undertake strategic acquisitions, and continue to hold an equity stake in the business. In May 2019, the Buy-in / Management buy-out of Premier Park was completed.

Value Creation

  • Augmented the management team at investment with the appointments of Paul Dawson, CEO, formerly with Capita plc where he held various senior management roles including CEO of Parking, and Andy Parker, non-executive Chairman, former Group CEO of Capita plc.

The Story So Far

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 working with the management team to grow the business both organically and through strategic acquisition to meet the increasing demand for its services.


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In their own words

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.

Paul Dawson / CEO / Premier Park