NSL to be sold for 120 million

NSL - the UK's leading on street parking management company - today announced that its majority shareholders, 3i, have agreed to sell their interest in the business to AAC Capital Partners for an enterprise value of 120 million.
3i have owned NSL since 2005 during which time the business has grown and diversified significantly. In that period employee numbers have grown from 2,700 to approaching 5,000, and the business has expanded internationally, and expanded its service capability within the UK.
Paul Southwell, Managing Partner at AAC Capital Partners, said: NSL is a highly regarded and well-established player in its markets. The company owes its success to outstanding customer service, efficiency and an unrivalled range of services.
NSL has a strong management team who will be investing alongside us. They have the experience and the strategic vision to broaden the range of services that NSL offers its customers. We look forward to working with them.
NSL Chief Executive Mark Underwood added: "This is an exciting time for everyone associated with the business as it embarks on its next phase of growth. There is a significant opportunity to expand the business over the next few years and AAC's experience and sector knowledge will be extremely valuable in driving our expansion, and assisting our focus on further improvements to our service for existing clients.
Mark added that for NSL's clients and staff it would be business as usual.
AAC's investment is a vote of confidence in our business strategy and we intend to continue along the same path - focussing on continuous improvement of the service we deliver to clients, and on developing new services.
In recent years NSL has successfully grown its market leading share of the UK parking enforcement market with a number of significant contract wins and retentions, including Westminster, Camden, Waltham Forest, Nottingham, Birmingham and Manchester. NSL has grown from operating parking enforcement contracts for 25 local authorities in 2005 to today working for 50 local authorities and having two national Government contracts; one for the DVLA and one for Northern Ireland Roads Services.
The business has also grown its business process outsourcing operation significantly - it is now the UK's largest provider of BPO systems to the parking industry, winning the London Road user  Charging contract (with IBM). NSL has also expanded into the Middle East, winning a parking management contract in  Abu Dhabi which has been described as the biggest parking contract in the world -  using the expertise the company has built up as the UK's leading parking manager to bring controlled parking to Abu Dhabi for the first time.
They have also established a successful Passenger Transport division, focussing on airport transfers both airside and landside at Heathrow and Gatwick, and care services in the non-emergency ambulance sector for NHS and local authorities, through the recently acquired Patient First business.
Contact
From
NSL Services Group
Website
www.nsl.co.uk
Date
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