L Catterton Invests $60M in Cloud-Based Parking Technology Company
L Catterton — one of the world's largest consumer investment funds — has invested $60 million in FlashParking, an Austin-based developer of parking management software and services. Launched in 2011 as the industry's first cloud-based parking technology, FlashParking's industry-leading software provides parking solutions through visibility and real-time data.
“This unique platform has allowed us to configure an operating system that’s not only the best solution for parking infrastructure today but also a model that’s ready for tomorrow,” said Juan Rodriguez, co-founder of FlashParking.
L Catterton's investment will allow the company to quickly scale their mobility hub operating system which currently serves 6 million customers who use its services to pay for parking each month, bringing in around $1 billion in transaction revenue.
Barack Ferrazzano acted as counsel to L Catterton in this strategic transaction. The team was led by Corporate & Securities Group partner Andrew R. Grossmann, as well as attorneys Megan Ratia and Katherine E. Gause.
To learn more about FlashParking and this transaction, visit: http://www.lcatterton.com/Press.html#!/LC-flashparking
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton's team of more than 180 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH, and Groupe Arnault.
For more information about L Catterton, please visit lcatterton.com.