Stockport technology firm acquired by US-based parking provider

Stockport based technology group, KMP Associates, has announced its acquisition by US-based SP+ Corporation, a Nasdaq listed parking facility management provider.

KMP offer a software-as-a-service (SaaS) platform to help organisations manage parking facilities at airports and other large destinations across the USA and Europe, operating under the AeroParker and MetroParker brands, as well as a digital marketing agency, KMP Digitata.

It is hoped that through acquiring the Stockport tech firm, SP+, which operates over a million parking spaces across North America, will gain a competitive edge in the digitalisation of the industry. Marc Baumann, Chairman and Chief Executive Officer of SP+, explained,

“The acquisition of KMP is aligned with our strategy of complementing organic growth with acquisitions that further strengthen our industry-leading technology capabilities, particularly in those areas that support digital transactions and the development of smart cities. Through this combination, we have the opportunity to leverage our respective relationships and expertise to bring innovative technology solutions to airports and commercial parking operations both within and outside of North America. In addition to expanding our addressable market, the acquisition of KMP has the potential to serve as a growth platform for us, advancing the digital transformation of our industry.”

Rhodri Edwards, President of KMP, said,

“With the support of SP+, we will have the ability to accelerate our growth to meet the rapidly expanding demand for our services. Given the complementary nature of our solutions and services, we envision significant opportunities to bring additional value to our clients.  Importantly, this is an excellent cultural fit for us, given our compelling value propositions and mutual commitment to superior client service and to the well-being of our talent.”

Jeffrey Eckerling, Chief Growth Officer of SP+, said,

“We are pleased to welcome Rhodri and his team of talented software developers and revenue management and digital marketing professionals to SP+. The addition of KMP’s SaaS platform further enhances and complements our existing Sphere suite of technology solutions, which provide our clients with flexible options to meet their mobility needs and optimize their parking assets, through technology-only solutions or a combination of technology and people.”