Servest acquires EasiPark
The Servest Group has signed an Offer of Purchase to acquire 100% of the shareholding in the EasiPark group of companies. The deal, effective from September, is subject to final Servest Board approval and when concluded, will see both companies merge into a single consolidated parking management business trading under Servest Parking. It will clearly rank as #2 in the parking business in South Africa in terms of size and number of contracts under management.
The new combined Servest Parking-EasiPark business;
- Operates 80 parking facilities, manages 70,000 parking bays, administers 6,500 monthly parking contracts and handles 40,000 parkers per day.
- Has offices in South African in Johannesburg, Cape Town, Durban and Pietermaritzburg.
- Has an extensive footprint throughout Africa, with a number of parking facilities and shopping centers under management in Zimbabwe, Zambia and Nigeria.
Servest is a broad-based services company valued at a market capitalization of over R2 billion, with strong businesses in Security, Cleaning, Hygiene, Office Plants, Landscaping, Turf and Parking. It is a dominant player in a number of those sectors. EasiPark is a niche business focused in the management and operation of parking facilities and will be acquired under the Servest Parking division.
Servest Parking is a retail-industry focused operator, and serves a number of the blue chip property funds and owners. These include Hyprop, Attfund, Old Mutual, Liberty, and selected Growthpoint buildings. Examples of parking facilities managed by Servest include Hyde Park, Centurion Mall, Rosebank Mall and Melrose Arch (all in Johannesburg), Canal Walk (in Cape Town), and Galleria (Durban).
EasiPark is a broad-based management company with operations nationally throughout South Africa. Clients include Netcare, Cape Town Partnership, City of Harare, Sasol Pension Fund/Growthpoint and Jo'burg Property Company. EasiPark has experience and expertise in managing parking facilities at airports, hospitals, retail, inner city/CBD on-street parking, and high traffic public parkades. The company also operates in a number of sub-saharan countries including Zimbabwe, Zambia and Nigeria and has successfully commissioned vibrant businesses and parking facilities in those countries.
For more information, please contact managing director Richard Mynhardt on 0832804603 or richard@servestsecurity.co.za, and Mike Clark on 0836003211 or spider@easipark.co.za