Wed, 16 Oct 2024 | BUSINESS SALE
Airport products and services firm CAVU Group has bought Parkos, a European platform for comparing and booking airport parking.
CAVU, founded by Manchester Airports Group in 2022 and still a subsidiary of the company, helps clients such as airports, airlines and travel agents create better travel experiences for their customers and boost revenues. This includes better passenger lounge and food and drink experiences, digital marketing and leveraging data and insights. Examples of its work include boosting car park reservations growth at Brisbane Airport.
According to its latest accounts filed to Companies House for the year to March 31, 2024, CAVU recorded revenues of £35 million, up from £24.5 million the previous year.
It has been boosted by the launch of its new e-commerce platform called propel last year as well as increased passenger numbers in airports despite the cost-of-living crisis.
CAVU, whose name comes from the aviation meteorology term ‘Ceiling and Visibility Unlimited’, hopes the acquisition of Netherlands group Parkos will turbocharge its presence in the European airport parking market and beyond.
Parkos supports customers with the airport parking process by offering travellers comparison and booking tools, partnering with more than 1,000 parking providers across 15 countries and 186 airports.
"We’re thrilled to take this next step in our growth journey with Parkos,” said Martin Jones, CAVU chief executive. “The addition of Parkos allows us to accelerate innovation, elevate our services, and reinforce our position as a market leader.”
Arne Bos, co-founder of Parkos alongside Peter Bosma, added: “We are confident that through this acquisition, we will realise tremendous synergies in the future and be able to serve our customers even better together. Both companies have the same focus on innovation, customer orientation, and delivering high-quality solutions for travellers.”
The deal builds on CAVU’s purchase of Manchester-based parking reservation platform ParkVia last year.
Find out more about the take-off of M&A deals in the travel sector
Charming village pub nestled in the picturesque Cotswolds offers a unique opportunity for potential buyers looking to invest in a thriving hospitality venture.
FREEHOLD
Seize the opportunity to own an impressive country house hotel nestled in the picturesque surroundings of Perth, Scotland.
Discover an exceptional opportunity to own the Scafell Hotel, a delightful property nestled in the scenic surroundings of Keswick.
FREEHOLD
01
|
May
|
McCann and Partners undergoes an MBO | MBO/MBI
A team of five directors at South Wales engineering and buil...
30
|
Apr
|
Human Magic conjures up Australian acquisition | BUSINESS SALE
Liverpool-based employer brand agency, which is behind creat...
30
|
Apr
|
LRG makes its biggest acquisition ever with Chancellors move | BUSINESS SALE
Property services firm Leaders Romans Group (LRG) has made i...
22
|
Jan
|
Stansted Airport sale confirmed | BUSINESS SALE
Stansted Airport has been sold by BAA following pressure fro...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.