Business
EQT : to acquire Orikan, a leading provider of integrated parking, enforcement, and compliance technology solutions
EQT : to acquire Orikan, a leading provider of integrated parking, enforcement, and compliance technology
About this update from Eqt Corporation
EQT today announced that BPEA EQT Mid-Market Growth Partnership (the "MMG Fund" or "EQT"), has agreed to acquire Orikan (the "Company"), a leading provider of integrated parking, enforcement, and compliance technology solutions.Headquartered in Melbourne, Orikan provides integrated parking operations and enforcement and infringement management services, supported by software, hardware, payments and data capabilities designed and operated by the Company. With nearly 400 employees, the Company serves hundreds of government and private sector customers - including universities, airports, hospitals and stadiums - across Australia, New Zealand, and North America.Orikan helps customers manage complex parking operations more effectively across the full parking lifecycle, as cities become more connected and demand for smarter infrastructure and outsourced operational support grows. EQT will partner with Orikan's management team to support the next phase of growth through continued investment in service delivery, product development, customer operations, and data and AI capabilities. Drawing on its global platform experience and sector expertise in technology-enabled services, EQT will support Orikan as it identifies opportunities to expand into adjacent customer segments and international markets.Nicholas Macksey, Co-Head of EQT Private Capital Asia and Head of the Mid-Market Growth strategy, said:"Orikan is a business we have followed closely and one that fits well with EQT's Asia mid-market strategy, with a clear opportunity for EQT to support its next stage of growth. We see significant potential to help the Company continue investing in innovation, strengthen its customer offering and expand into adjacent markets. Importantly, we can bring the full resources of EQT's regional footprint, sector expertise and industrial advisor network to support the management team as Orikan pursues selected international growth opportunities."Jacob Van der Wiel, Managing Director in the EQT Private Capital Asia Team, said:"We have been impressed by the quality of Orikan's technology, the strength of its management team and the trusted relationships it has built with customers across Australia, New Zealand, and North America. Orikan's unique combination of best-in-class proprietary technology and comprehensive operational support services is highly differentiated and has gener...