EQT agreed on 6 July to acquire Orikan, a Melbourne-based parking and enforcement technology business, through its BPEA EQT Mid-Market Growth Partnership.
Why EQT (BPEA EQT Mid-Market Growth Partnership) is buying Orikan
EQT said Orikan's combination of proprietary technology and operational support is differentiated, and it will back product innovation, AI and data capabilities, service delivery and international growth.
“Orikan is a business we have followed closely and one that fits well with EQT’s Asia mid-market strategy, with a clear opportunity for EQT to support its next stage of growth.”
Deal terms and financing
Financial terms were not disclosed.
Market context
Orikan serves universities, airports, hospitals and stadiums as well as councils. The Australian Financial Review reported the price at about A$475m.
