MELBOURNE: Smart Parking Ltd. (ASX:SPZ), an Australian-based parking technology and services company, said Thursday it has acquired American Parking, a regional operator with 54 locations across Oklahoma, Texas and Arkansas.
The purchase price was $12 million, with $11 million paid in cash and $1 million in Smart Parking shares deferred for six months, the company said. The acquisition was funded through existing cash reserves, the company’s debt facility and stock.
American Parking, founded in 1969 and headquartered in Tulsa, Oklahoma, manages a mix of legacy and manual parking operations in Tulsa, Oklahoma City, San Antonio, Austin and Little Rock. Its services include lot management, enforcement, event parking and valet services.
The deal brings Smart Parking’s total U.S. sites to more than 200 across seven states, the company said. The acquisition also opens additional opportunities to deploy SmartCloud, the company’s proprietary license plate recognition and management platform.
“We are delighted to welcome the American Parking team and customers to the Smart Parking Group,” CEO Paul Gillespie said in a statement. “American Parking has built a well-run and highly respected parking management business with growth delivered over many years. This has resulted in an attractive and diverse portfolio of sites under management across great U.S. states like Oklahoma, Texas and Arkansas.”
American Parking reported $8 million in revenue and $1.4 million in earnings before interest, taxes, depreciation and amortization for 2025. Smart Parking said the transaction is expected to be accretive to earnings per share before accounting for synergies.
Gillespie said the company remains “very early in our growth trajectory” and plans to relocate to the U.S. in the first half of fiscal 2027 to drive business performance.
Smart Parking, publicly listed on the Australian Securities Exchange since 2011, operates offices in Australia, New Zealand, Germany, Denmark, the U.K. and the U.S. The company manages thousands of parking spaces globally using its ANPR/LPR-based technology, which can be paired with payment solutions.
