International airport parking price comparison firm, Looking4Parking.com, which was acquired by Purple Parking in 2016, has confirmed it has completed a management buy back of the business.
The two Leeds-based directors of Looking4Parking.com, which provides access to airport parking around the world, have confirmed that they have taken the opportunity to buy back the business they sold to London-based Purple Parking.
Martin Mansell and Dave Greenbrown, joint managing directors of Looking4Parking.com, were advised by Clarion Solicitors on the seven-figure deal. Mr Mansell said: “Following the sale, the business grew more rapidly than we anticipated, especially in overseas markets. This created opportunities, and some obstacles, that weren’t anticipated. We sat down as a board earlier this year and re-evaluated the business plan which led to us being presented with a phenomenal opportunity to buy back the Looking4parking.com business.”
Mr Mansell added: “The deal completed recently and it has allowed us to press forward with our ambitious plans which has recently included the acquisition of Melbourne-based Airport Parking Australia.
“The Australian acquisition gives us full coverage across Australia and New Zealand, with some additional partnerships in Japan. It is the first in a number of acquisitions and partnership agreements that we are looking to strike in the next 12 months as we look to expand our operations globally.”