ParkHub and JustPark Merge in Strategic Partnership

Dallas-based ParkHub is merging with U.K.’s JustPark to offer a comprehensive parking software and payments solution, backed by strategic investment from FTV Capital and LLR Partners, according to a Dallas Innovates article. They say,

“Dallas-based ParkHub, a provider of parking management software and payments solutions, is merging with JustPark, one of the United Kingdom’s leading app-based parking reservations technology and payments platforms.

The deal will create a full-service parking software and payments solution for customers across North America and the United Kingdom. As part of this transaction, ParkHub said it secured a strategic growth investment led by FTV Capital with participation from existing investor LLR Partners. Financial details of the merger and investment were not disclosed.”

ParkHub and JustPark began merger talks a year ago, intensifying in late 2023. While ParkHub holds the majority share, brand integration remains undecided, according to a Dallas Morning News article. In it they say,

“The companies began talking a year ago but merger discussions heated up in late 2023. Operations for both companies are not expected to be impacted in any way in the immediate future, Eskinazi said. Though ParkHub has the majority stake in the company, brand changes don’t appear imminent for either company at the moment.

“This deal was funded by FTV Capital and LLR Partners and ParkHub actually acquired 100 percent of the share that just popped,” Eskinazi said. “Which brand name to use is all up in the air right now. ParkHub and JustPark are recognizable in our respective regions. But we’re going to have to look at both businesses and our products and figure out how to integrate.””

The merged company aims to differentiate itself in the U.S. and U.K. markets by leveraging ParkHub’s customer acquisition strategies from the U.K.