Sovereign backs Premier Park

Financial details of the transaction remain undisclosed, though Sovereign is currently deploying capital from its £395m fourth fund, which commits up to £50m of equity per deal.

As part of the deal, Premier Park has introduced former ParkingEye CEO Paul Dawson as its group CEO, and former group CEO of Capita, Andy Parker, as non-executive chairperson.

The company will pursue an acquisitive growth strategy following the deal.

Company
Headquartered in Exeter, Devon, Premier Park is a car park operator and provider of related services, including automatic number plate recognition cameras, monitoring systems, payment machines, entry and exit systems and warden patrols. It currently operates 840 sites across the UK.

People
Sovereign Capital Partners – Jeremy Morgan (partner).
Premier Park – Steve Garratt, Steve Pettit (founders).

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• Topics
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