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Smart Parking Limited (ASX:SPZ)

ALERT: Price-sensitive ASX Announcement for SPZ
Current share price for SPZ : $0.750 -0.025 (-3.23%)+
Announcement
Release
2 Jul 2026 8:19AM
Price at Release
$0.775
Full Release
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Summary
Smart Parking Limited (ASX:SPZ) has announced the acquisition of American Parking, a parking operator with 54 locations across Oklahoma, Texas, and Arkansas. This strategic acquisition is part of SPZ's plan to expand its parking management market in the USA. The purchase price is USD$12 million, funded through cash reserves, debt facility, and SPZ shares. American Parking, with a 2025 revenue of USD$8.0 million and EBITDA of USD$1.4 million, will add over 200 sites under SPZ's management across 7 states. The acquisition is expected to enhance SPZ's growth, leverage its SmartCloud technology, and improve profitability.
Key Points
  • Smart Parking Limited acquires American Parking for USD$12 million.
  • Expansion into Oklahoma, Texas, and Arkansas with 54 new locations.
  • Strategic fit to build scale in the USA parking management market.
  • Acquisition funded by cash, debt facility, and SPZ shares.
  • American Parking 2025 revenue was USD$8.0 million with USD$1.4 million EBITDA.
  • Acquisition expected to be EPS accretive pre-synergies.
  • Expansion opportunities using SPZ's SmartCloud technology.
  • Total US sites under SPZ management exceed 200 across 7 states.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.