Car-park operator Q-Park is to buy Park Rite-owner Tazbell Services Group. The deal, which must be approved by the Competition & Consumer Protection Commission (CCPC) in Ireland, will see Q-Park acquire all of Tazbell’s trading operations. Although terms are said to have been agreed, a figure for the proposed acquisition has not yet been announced.
Q-Park Ireland is part of Dutch-incorporated parking infrastructure owner and operator Q-Park Holding, which is owned by private equity group KKR. It has more than 640,000 parking spaces at over 3,300 commercial parking facilities in Ireland, Britain, the Netherlands, Belgium, Germany, France and Denmark.
In Ireland the company’s operations include the Setanta, St Stephen’s Green, Grand Canal Square and Dawson Street car parks in the nine facilities it operates in Dublin. It also manages facilities in Wicklow, Cork, Galway, and Limerick.
Tazbell Services Group also provides car parking management services in addition to on-street parking enforcement and clamping services, managing 50,000 on-street spaces for local authorities, providing toll operations for the M3 and M4 and parking consulting services. It operates in Dublin, Galway, Limerick, Kilkenny and Offaly. It employs more than 200 staff.
The potential takeover was notified to the CCPC last week.
