£12.4m parking firm sold to multinational group

Tamworth-based Parking Facilities has been sold to Hill & Smith Holdings in a deal advised upon by Springboard Corporate Finance.

Parking Facilities specialises in the design, manufacture and supply of a range of parking and access control products. The products include cantilever, bi-fold and swing gates, automatic and manual barriers, automatic bollards, rising kerbs, speed ramps and access control products.

Hill & Smith Holdings is an international group with leading positions in the supply of infrastructure products and galvanising services.

Derek Muir, group chief executive of Hill & Smith Holdings, said: “Parking Facilities has a wide range of high quality products that complement our existing Hostile Vehicle Mitigation and related security product offering, enabling us to provide comprehensive perimeter security solutions to customers in both UK and international markets”.

Springboard partner Simon Ward and assistant director Jonathan Wright advised Parking Facilities on the sale.

Ward said: “Since establishing Parking Facilities in 2000, Anthony Green has built a market-leading player in the parking control sector and has delivered outstanding growth. We are delighted to have helped Anthony identify the right home for the business, which provides an excellent strategic fit as part of a larger PLC and ensures a great platform for its next stage of development.”