KMP Associates – the Mercia-backed company which is behind the Aeroparker commercial parking platform, has been acquired by the US technology provider SP Plus Corporation.
The deal provides an exit for Mercia which first backed the company in 2013, investing from the North West Fund for Venture Capital. It achieved an eight-fold return on investment.
Based in Stockport, KMP offers digital marketing services through its agency, KMP Digitata. Having initially created the Aeroparker platform for a client, it went on to develop it as a standalone product. It is now deployed at over 35 airports in the US and Europe and over 100 commercial parking locations in Europe.
The platform operates under two brands. AeroParker increases revenues for airports by enabling them to offer prebooked parking spaces, access to airport lounges and other services, while MetroParker is aimed at town centre parking operators.
Jon Keefe, founder of KMP Associates, said: “I am very proud to have founded KMP and over the last 30 years, to have led the transition from a digital-focused agency to a commercially valuable ecommerce SaaS platform. The investment we received from Mercia enabled us to accelerate growth and become a supplier to airports globally as well as corporates in the parking, aviation and transportation sectors. The sale of KMP will enable SP+ to broaden their technology capabilities and expand their market and provide a great home for KMP going forward”.
Will Clark of Mercia added: “Jon, Rhodri and the rest of the KMP management team have successfully rolled out a product they had developed for a customer to a much wider market, including US and European airports as well as city centre car parks. They then went on to devise other products and services around it. It is an example of how a home-grown platform can become an industry-leading brand.”