M&A Deal Summary

Metropolis Technologies Acquires SP Plus

On October 5, 2023, Metropolis Technologies acquired consumer services company SP Plus for 1.5B USD

Acquisition Highlights
  • This is Metropolis Technologies’ 2nd transaction in the Consumer Services sector.
  • This is Metropolis Technologies’ largest (disclosed) transaction.
  • This is Metropolis Technologies’ 2nd transaction in the United States.
  • This is Metropolis Technologies’ 1st transaction in Illinois.

M&A Deal Summary
Date 2023-10-05
Target SP Plus
Sector Consumer Services
Buyer(s) Metropolis Technologies
Deal Type Add-on Acquisition
Deal Value 1.5B USD
Advisor(s) Morgan Stanley (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

SP Plus

Chicago, Illinois, United States
website
SP Plus is a provider of parking facility management services. SP Plus provides on-site management services at multi-level and surface parking facilities for all major markets of the parking industry. SP Plus was founded in 1929 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Metropolis Technologies

Santa Monica, California, United States

website

Category Company
Sector Software
DESCRIPTION

Metropolis Technologies is a developer of advanced technology for mobile commerce. Its platform is deployed in hundreds of facilities and industries where the Company is building the digital pipes through which the future of mobile commerce will move. Metropolis Technologies is based in Los Angeles, California.

DEAL STATS #
Overall 2 of 2
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Illinois) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 Premier Parking

Nashville, Tennessee, United States

Premier Parking is a provider of parking management solutions for urban, healthcare, hospitality, and mixed-use developments including restaurants, offices, municipal, and special events. The Company’s services include on-site parking management, traffic management, valet and shuttle services, parking enforcement, and parking design and technology consulting services. Premier Parking was established in 2001 and is based in Nashville, Tennessee.

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