Alantra advised ParkJockey on Investment from Leading Technology Investment Fund and Subsequent Parking Operator Acquisitions
SECTORTechnology
ServiceM&A
Alantra is pleased to announce that ParkJockey, a provider of a next-generation technology platform aimed at optimizing parking real estate, has secured an investment from a leading global technology investment fund. As part of the transaction, ParkJockey has acquired two traditional parking operators with presence across US and Canada; Citizens Parking Inc., and Imperial Parking Corporation (“Impark”).
Founded by entrepreneurs Ari Ojalvo, Aziz Ihsanoglu and Philippe Saint-Just, ParkJockey utilizes proprietary software and best-in-class hardware to make the parking experience more efficient for customers and help real estate owners maximize the value of their parking space.
“After meeting ParkJockey, we quickly realized that their technology and vision had the potential to revolutionize the parking industry and we did not hesitate to jump on board to help them achieve their ambitious plans,” said John Emery, Managing Partner and head of Alantra’s Technology practice. “This transaction is a great example of the current market trend where traditional businesses are no longer leading the transition from the ‘Old Economy’ to the ‘New/Smart Economy.’ The focus has shifted to technology-centric businesses with a deep understanding of the new tech developments and market dynamics, as well as a fast-paced mentality and execution capabilities to speed up this transition. ParkJockey’s technology, unique vision and highly skilled team made them the perfect candidate to lead the transition of two legacy parking real estate businesses into a smart city champion,” he concluded.
“From day one, we found in John Emery more than a financial advisor. His support and judgement were instrumental in executing on our big vision,” said Ari Ojalvo, CEO of ParkJockey. “This was a complex and unique transaction and we found in the Alantra team true business partners that remained by our side throughout the entire process.”
“ParkJockey is Miami’s first tech unicorn, a status that is fairly unusual for a state like Florida. John Emery and Alantra showed a deep understanding of our business and vision and helped us break the mold of a traditional Miami-based company and achieve unicorn status. Their relentless efforts were instrumental in reaching this successful outcome,” Mr. Ojalvo added.
