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Spacer Technologies acquires Where I Park
Addisons has advised Spacer Technologies (Spacer) on its acquisition of Where I Park in another peer-to-peer platform deal.
Adrian Suljanovic
Firm: Addisons (Spacer Technologies)
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Deal: Spacer Technologies has acquired Where I Park.
Value: N/A
Area: M&A
Key players: The Addisons team was led by Kieran Parker (managing partner), Michael Ryan (consultant), and Max Jamieson (solicitor).
Deal significance: The acquisition will accelerate Spacer’s expansion into North America and beyond the existing markets there and in Australia.
Created in 2016, Spacer’s goal was to help asset owners monetise parking, storage and warehousing space by enabling transactions with potential renters through their platform.
Spacer’s chair and founder Roland Tam commented on the transaction: “Addisons is our go-to firm because they always take a technically sound yet commercial approach to transactions. We are very grateful for the long hours Kieren, Michael and Max put into this project, and the way they navigated some complex and challenging cross-border issues in the North American market. They are the perfect legal partner for fast growing businesses as they evolve.”
Mr Parker congratulated the Spacer Technologies team on closing its “strategic transaction”.
“The acquisition of Where I Park supports Spacer’s growth trajectory by giving it an established foothold to scale in the all-important North American market,” Mr Parker said.
