|ICFG UK advises MET Parking Services on their multi-million £ development capital funding from ThinCats|
|Target Company Name||MET Parking Services|
|Target Country||United Kingdom|
|Buyer Name / MBO Team / MBI Team||Thincat|
|Buyer Country||United Kingdom|
ICFG member based in the UK, HMT LLP, advised parking management solutions business, MET Parking Services Ltd (“MET”) on their fundraising. ThinCats provided a multi-million-pound funding package to enable the business to dramatically accelerate its growth plans.
Established in 2005, MET is a car park services operator, providing a comprehensive range of tailored parking management and enforcement services to over 500 private land sites throughout the UK, using leading edge technology solutions.
Led by CEO David Marks, MET has built a business based upon customer service and brand awareness, balancing clients’ operational requirements with the need to manage their brand, facilitating the winning of contracts from internationally renowned brands whilst at the same time distinguishing itself from the less reputable operators in this sector.
David Marks, working alongside HMT, sought to raise development capital to deliver on a transformational pipeline of new sites, expanding on the traction built up by MET over recent years, and enable the business to progress acquisition targets.
HMT, with their expertise of Mid-Market debt and equity funders acted as lead advisers to MET to provide the required development capital from a partner seeking to support its ambitious growth plans. Having recently worked on a previous successful transaction, ThinCats were identified as the right fit moving forwards.
David Marks, CEO of MET commented:
“It was great working with ThinCats and HMT. They both took the time to get to know our business, the team behind it, and the plans that we have for growth and development over the coming years. It is an exciting time for MET and we are looking forward to utilising the funding to continue to deliver on our roadmap for growth and partnering with our client base on a greater scale. Andrew and Ricky will continue to be invaluable partners for MET going forwards and we would not hesitate in recommending them.”
Dave Sherrington, Head of Regional Sales at ThinCats commented:
“We are delighted to have been able to work alongside HMT again to support David and his team with this CBILS funding. There are plenty of businesses out there who are still looking to develop and grow their offering, and ThinCats is in the perfect position to support them through the CBIL Scheme.”
Ricky Collis commented:
“Having grown organically under David’s leadership for a number of years, MET have reached an inflexion point with an accelerating demand for their services driving the business to new heights. A funding line with a lender such as ThinCats who will be supportive as traction continues to build will provide the gasoline for a transformational roll-out of sites and the ammunition for acquisitions.”
|ICFG Office||Henley-on-Thames, United Kingdom|
|ICFG Advisory||ICFG UK advised on this deal in 2020|