VENTURES: Excellerate Parks off in Cape
Recent Western Cape Business News
EXCELLERATE, the listed services company, looks like reinforcing its position in the Cape parking space and access management market.
Last month Excellerate announced the acquisition of Lansdowne-based parking space management specialists Omnipark as well as ‘admission gate specialists’ Omnigate.
The value of the acquisition was not disclosed, but Excellerate said both businesses enjoyed “considerable brand strength and market share” in the Western Cape. The businesses also have footholds in the KwaZulu-Natal market.
The acquisition fits well into Excellerate, which already owns the sprawling Interpark parking management business.
Interpark specialises in shopping centres, entertainment and commercial nodes; and is estimated to control nearly three-quarters of the paid parking market in the country.
Excellerate directors said Omnipark – which has been in operation for over 15 years – had developed a reputation for professionalism, solid service delivery and customer service.
The directors said management of Omnipark and Omnigate would remain onboard the respective companies.
Excellerate directors reckoned the acquisition would significantly increase the group’s exposure to the parking industry through ownership of a recognised competitive parking brand.
“We expect to achieve some useful synergies as a result of the acquisitions.” For instance, Interpark’s Autoclean business (a professional mobile car cleaning service) could be extended to Omnipark’s parking areas. Omnipark is the second acquisition in Cape Town by Excellerate in recent months.
The group also paid R9.9 million for a 50% stake in Chattels, an infrastructure solutions company which designed and constructed the facilities at the ANC Polokwane conference and the A1 Grand Prix in Durban.
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