Smart Parking Acquires American Parking
Key points
- Acquisition of American Parking for USD$12m
- Expands SPZ's US presence to over 200 sites
- Transaction expected to be EPS accretive
Full summary
Smart Parking Limited (ASX:SPZ) has acquired American Parking, a parking operator with 54 locations across Oklahoma, Texas, and Arkansas. The acquisition, valued at USD$12 million, brings the total number of US sites under management to over 200. The transaction is funded from existing cash reserves, SPZ's debt facility, and SPZ shares. American Parking had revenues of USD$8.0 million and EBITDA of USD$1.4 million in 2025. The acquisition is expected to be earnings per share (EPS) accretive pre-synergies.
Guidance
American Parking had revenues of USD$8.0 million and EBITDA of USD$1.4 million in 2025
Outlook
SPZ is early in its growth trajectory and continues to evaluate opportunities in the US parking market
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