M&A Deal Summary

The Parking Spot Acquires Park N Fly

On February 6, 2024, The Parking Spot acquired consumer services company Park N Fly from CK Infrastructure and CK Hutchison

Acquisition Highlights
  • This is The Parking Spot’s 1st transaction in the Consumer Services sector.
  • This is The Parking Spot’s 1st transaction in the United States.
  • This is The Parking Spot’s 1st transaction in Georgia.

M&A Deal Summary
Date 2024-02-06
Target Park N Fly
Sector Consumer Services
Buyer(s) The Parking Spot
Sellers(s) CK Infrastructure
CK Hutchison
Deal Type Divestiture

Target

Park N Fly

Atlanta, Georgia, United States
Park'N Fly is the sole off-airport parking provider that offers valet car park services for business and leisure travelers as well as provides 24-hour shuttle transportation services to ensure fast and easy transfer between the airport and car drop-off/pick-up area. Park 'N Fly was founded in 1967 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

The Parking Spot

Chicago, Illinois, United States
Category Company
Founded 1998
Sector Consumer Services
DESCRIPTION

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.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 2

SELLER

CK Infrastructure

Hong Kong, China
Category Company
Founded 1996
Sector Infrastructure
Employees2,407
Revenue 6.0B HKD (2023)
DESCRIPTION

CK Infrastructure is a global infrastructure company that aims to make the world a better place through a variety of infrastructure investments and developments in different parts of the world. CK Infrastructure was founded in 1996 and is based in Hong Kong, China.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 ista International

Essen, Germany

ista International GmbH sells a range of meter hardware and also provides a comprehensive package of related services such as meter installation, meter reading, billing, data processing, and maintenance. ista International GmbH was formed in 1999 and is based in Essen, Germany.

Buy -
SELLER

CK Hutchison

Hong Kong, China
Category Company
Founded 1828
Sector Real Estate
Employees300,000
Revenue 275.6B HKD (2023)
DESCRIPTION

CK Hutchison is a property development and strategic investment company. CK Hutchison is one of the largest developers in Hong Kong of residential, commercial, and industrial properties. CK Hutchison was founded in 1828 and is headquartered in Hong Kong, China.

DEAL STATS #
Overall 3 of 3
Sector (Consumer Services) 1 of 1
Type (Divestiture) 2 of 2
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-06 HUD Group

Tsing Yi Island, China

HUD Group is a provider of multi-disciplinary marine services and engineering solutions. Its 100,000-square-metre dockyard is well located geographically on Tsing Yi Island, in close proximity to Hong Kong’s two main import and export channels: Kwai Chung Container Terminals and Hong Kong International Airport. HUD Group was founded in 1972 and is based in Tsing Yi Island, Hong Kong.

Buy -
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