Trust App Ltd has finalised the acquisition of Newpark Solutions, a leading UK provider of ticketless parking technology.
- Newpark Solutions, based in Bristol, has crafted bespoke parking solutions for over 15 years.
- The acquisition guided by RWK Goodman adds technical prowess to Trust App’s capabilities.
- Comments from key executives underscore the optimistic future post-acquisition.
- Trust App aims to integrate Newpark’s technology to enhance its new app offering.
Trust App Ltd has announced the successful completion of its acquisition of Newpark Solutions Ltd, enhancing its technological portfolio. Newpark Solutions, renowned for its expertise in the field of ticketless ‘pay on foot’ parking solutions, stands as the sole UK manufacturer of such innovative systems. Headquartered in Bristol, this company has dedicated over 15 years to developing bespoke software solutions.
The acquisition process was meticulously overseen by legal advisors. RWK Goodman, represented by a team including James Worrall, Yasmine Qasim, and Janetta White, advised Newpark Solutions, while Pinsent Masons provided counsel to Trust App. James Worrall, a Corporate Partner at RWK Goodman, expressed his satisfaction in delivering a successful outcome for Newpark’s shareholders and highlighted the strong partnership formed with Trust App.
Key figures from both organisations have expressed enthusiasm regarding the acquisition’s potential impact on the industry. Darren Nurse, General Manager at Newpark Solutions, stated his belief in the promising future that Trust App envisions, a sentiment shared by Matt Cook, Co-founder of Trust, who conveyed excitement about integrating Newpark’s technical capabilities, describing the acquisition as the “missing piece” needed for advancing Trust’s app.
Founded in 2019, Trust App Ltd focuses on pioneering computer vision technology. By assimilating Newpark’s advanced technology into its operations, Trust App intends to significantly bolster its offerings, paving the way for the launch of its envisioned app.
The acquisition signals a forward-thinking approach, blending Newpark’s established expertise with Trust App’s innovative vision.
