LLR Partners has made an investment in ParkHub, a provider of parking software and payments solutions. No financial terms were disclosed. Houlihan Lokey and Foley & Lardner LLP advised ParkHub on the transaction while Morris, Manning & Martin LLP did likewise to LLR Partners.
DALLAS and PHILADELPHIA – [February 3, 2022] – ParkHub, a leading provider of parking software and payments solutions, today announced a growth investment from LLR Partners. The investment will support continued development of the Company’s parking management software, growth in payment processing solutions, and complementary acquisition opportunities.
ParkHub provides a fully integrated software and payment processing solution to optimize parking operations, facilitate payments, and deliver real-time business insights to customers in multiple vertical markets, including sports, music & entertainment, higher education, parks & recreation, and other destinations. Through reliable technology, advanced reporting and analytics, and integrations with numerous parking and ticketing solutions, ParkHub helps clients increase revenue, improve operational efficiency, and deliver exceptional guest experiences.
Jeff Shanahan, former CEO of CardConnect, will join the Board of Directors of ParkHub as Executive Chairman, along with Mitchell Hollin and Ryan Goldenberg from LLR Partners, and existing board director, George Baker, Founder & CEO of ParkHub.
“The Executive Team and I are thrilled to partner with Jeff Shanahan and the entire LLR team and leverage their significant experience helping grow integrated software and payments businesses. Their network, expertise, and value creation resources will support ParkHub as we continue to grow and optimize parking operations for our customers,” said George Baker, Founder & CEO of ParkHub.
“Parking is experiencing a macro shift towards software adoption and electronic payments,” said Ryan Goldenberg, Principal at LLR Partners. “ParkHub’s solution is tailor-made to enable parking operators and owners to optimize operations, help maximize revenue, and deliver seamless consumer experiences. We look forward to partnering with the existing ParkHub team, led by George Baker and President, Conner Mowles, and supporting the company’s next stage of growth opportunities.”
ParkHub was advised by Houlihan Lokey and Foley & Lardner LLP. LLR Partners was advised by Morris, Manning & Martin LLP in connection with this transaction.
ParkHub is optimizing the world’s journeys by providing cutting-edge enterprise technology to support the parking industry. The company’s products offer contactless payment options, real-time operational data, robust performance analytics, and leading integrations with ticketing and parking reservation providers. For more information, visit parkhub.com.
About LLR Partners:
LLR Partners is a lower middle market private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at https://www.llrpartners.com/.