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Osborne Clarke experts in Bristol in Reading advise Palladian on £120 million MBO of Intelli-Park
Lawyers at international law firm Osborne Clarke in Bristol and Reading have advised Palladian Investment Partners LLP, an independent financial sponsor, on the £120 million Management Buy Out of Intelli-Park, a leading UK provider of parking technology and management services.
Vecturis Equity GmbH, a German fund focused on mobility services, has acquired a minority stake in Intelli-Park alongside Palladian.
Founded in 2004 and headquartered in Coventry, Intelli-Park’s intelligent parking solutions help real estate owners manage and optimise their car park sites.
With over 270 employees managing over 2,000 sites across the UK, Intelli-Park’s blue-chip clients include McDonald’s, Savills, JLL and Cushman & Wakefield. The company recently expanded its operations into Germany.
Palladian’s majority stake buyout of Intelli-Park will see the management team, led by co-CEOs Ben Cooke and Jeff Harrison, further enhance the company’s technology and service offering, accelerate the rollout of EV charging infrastructure across its estate and undertake acquisitions in the UK and Europe.
The Osborne Clarke team assisting Palladian was led by Bristol-based corporate partners Alisdair Livingstone (pictured left) and James Taylor (right), supported by associate director James Mackay, associate John Annan and trainee solicitor Tundun Basorun.
Partner Tom Bussy, associate director Daniel Barnhouse and associate Reading-based Sarah Yeo provided advice on financing.
Additional support was also provided by senior associate Johnny Squires (tax), associate director Nick Haywood and associate Reading-based Dan Charie (employment) and partner Anika Chandra and associate Rhiannon Jones (incentives).
Ben Cooke, Group Co-CEO, Intelli-Park, said: “We are thrilled to announce the successful management buyout of Intelli-Park and extremely excited to be partnering with Palladian Investment Partners and Vecturis Equity in Germany.
“These strategic partnerships represent a significant milestone for our company and will empower us to continue providing best in class technology solutions to our clients and will further accelerate our digital footprint in the market.
“We are very excited about the future and look forward to working closely with Palladian and Vecturis to achieve our shared vision.”
Doug Oppenheim, co-managing partner of Palladian, added: “In recent years Intelli-Park has achieved a well-earned position as an innovator at the forefront of the parking management market, providing its customers with the digital tools and services to optimise their parking assets and enhance their own customers’ experience.
“The Palladian team looks forward to supporting the senior management team and all their colleagues to continue Intelli-Park’s growth over the coming years.”
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