Q-Park BV, backed by KKR, strengthens its UK presence by acquiring Britannia Parking Group, a prominent car park operator.

Information on the Target

Q-Park BV, a portfolio company of KKR, recently completed the acquisition of Britannia Parking Group Ltd through its subsidiary, Q-Park UK Ltd. This significant transaction was finalized in June 2024. Q-Park is a prominent player in the European market, specializing in sustainable mobility solutions and effective parking services, boasting a robust revenue of EUR 829 million in 2023. With over 706,000 parking spaces spread across more than 3,600 facilities in seven Western European countries, Q-Park is recognized as a reliable parking partner with a strong brand identity.

Britannia Parking Group, on the other hand, provides extensive expertise as a car park operator with a rich history spanning over 25 years. They manage a diverse array of car parks across the UK, which includes not only multi-storey facilities but also surface sites of varying sizes. The group manages over 600 parking facilities, representing a broad spectrum of established real estate entities, institutional investors, and independent property developers.

Industry Overview in the UK

The parking management industry in the UK is witnessing steady transformation, primarily driven by advancements in technology and an increasing demand for efficient urban mobility solutions. The landscape is evolving due t