M&A Deal Summary

Metropolis Technologies Acquires Premier Parking

On March 30, 2022, Metropolis Technologies acquired consumer services company Premier Parking from River Associates and Northstar Capital

Acquisition Highlights
  • This is Metropolis Technologies’ 1st transaction in the Consumer Services sector.
  • This is Metropolis Technologies’ 1st transaction in the United States.
  • This is Metropolis Technologies’ 1st transaction in Tennessee.

M&A Deal Summary
Date 2022-03-30
Target Premier Parking
Sector Consumer Services
Buyer(s) Metropolis Technologies
Sellers(s) River Associates
Northstar Capital
Deal Type Add-on Acquisition

Target

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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Buyer(S) 1

Buyer

Metropolis Technologies

Santa Monica, California, United States
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 1 of 2
Sector (Consumer Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Tennessee) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-05 SP Plus

Chicago, Illinois, United States

SP Plus is a provider of parking facility management services. The company 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.

Buy $1.5B

Seller(S) 2

SELLER

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 24 of 25
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Tennessee) 2 of 2
Country (United States) 23 of 24
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 TopDown

North Hollywood, California, United States

TopDown is a designer, manufacturer, and supplier of automotive aftermarket products. TopDown was founded in 1979 and is based in North Hollywood, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-22 Double E

West Bridgewater, Massachusetts, United States

Double E is a manufacturer of highly-engineered components for web converting applications. The company's product offering includes critical wear components such as chucks, brakes, shafts, slitters, web guides, core cutters, and roll movers. These products secure, straighten, apply tension, cut, and move rolled raw materials through continuous manufacturing processes. Double E was established in 1972 and is headquartered in West Bridgewater, Massachusetts.

Sell -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 70 of 80
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 24 of 27
State (Tennessee) 3 of 3
Country (United States) 67 of 76
Year (2022) 4 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Union Tractor

Nisku, Alberta, Canada

Union Tractor is a distributor of replacement parts for construction equipment in Western Canada. The Company currently distributes over 100,000 parts for construction equipment sourced from almost 2,000 active suppliers. Union Tractor operates from seven strategic locations throughout Alberta and British Columbia. Union Tractor was founded in 1927 and is based in Nisku, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-01 Kieffer

Sheboygan, Wisconsin, United States

Kieffer is a full-service provider of innovative and high quality signs and related services. Kieffer is based in Sheboygan, Wisconsin.

Sell -
Mergr

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