M&A Deal Summary

KKR Acquires The Parking Spot

On October 8, 2024, private equity firm KKR acquired consumer services company The Parking Spot from Green Courte Partners

Acquisition Highlights
  • This is KKR’s 11th transaction in the Consumer Services sector.
  • This is KKR’s 210th transaction in the United States.
  • This is KKR’s 7th transaction in Illinois.

M&A Deal Summary
Date 2024-10-08
Target The Parking Spot
Sector Consumer Services
Buyer(s) KKR
Sellers(s) Green Courte Partners
Deal Type Secondary Buyout

Target

The Parking Spot

Chicago, Illinois, United States
The Parking Spot operates off-site parking lots near more than 20 major US airports, some with multiple locations. Lots have both covered and uncovered areas as well as valet parking. The Parking Spot was formed in 1998 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 483 of 483
Sector (Consumer Services) 11 of 11
Type (Secondary Buyout) 107 of 107
State (Illinois) 7 of 7
Country (United States) 210 of 210
Year (2024) 18 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-26 GeoStabilization

Commerce City, Colorado, United States

GeoStabilization is a provider of complex geotechnical maintenance services for critical infrastructure across the U.S. and Canada. The company develops and implements innovative solutions that protect from dangers associated with geohazards that have either caused or have the potential to cause, catastrophic infrastructure failures and significant economic disruption. GeoStabilization was founded in 2002 and is based in Commerce City, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-14 Channel Control Merchants

Hattiesburg, Mississippi, United States

Channel Control Merchants is a deep value retailer and wholesaler of opportunistic secondary market inventories, with particular expertise in the purchase and resale of store-level inventories. Channel Control Merchants is based in Hattiesburg, Mississippi.

Sell -

Seller(S) 1

SELLER

Green Courte Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Real Estate
Founded 2002
Size Large
Type Sector Focused
DESCRIPTION

Green Courte Partners is a private equity real estate firm focused on the ownership and operation of land-lease communities, retail and mixed-use properties, and parking assets. Within land-lease, GCP looks to purchase communities with 150+ sites, with the potential to be '3 star' properties. The Firm will consider turnaround situations as well. Within retail/mixed-use, GCP targets a variety of projects in urban, suburban, and resort shopping districts, as well as college towns. Within parking, GCP seeks assets in major markets, specifically structures in dense areas, as well as properties near airports and universities/hospitals. In addition to acquiring real estate assets, GCP also forms joint ventures with operating partners. Green Courte Partners was formed in 2002 and is based in Lake Forest, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-07 The Aspens at Bedford Falls

Raleigh, North Carolina, United States

The Aspens at Bedford Falls is a senior living community with 182-unit property located in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-22 USAirport Parking

Commerce, Colorado, United States

USAirport Parking is a large off-site airport parking provider located near Denver International Airport (DIA) in Colorado. USAirport Parking offers convenient parking options for travelers, including both short-term and long-term parking services. USAirport Parking is based in Commerce, Colorado.

Buy -
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