Proposed takeover of car-park company with operations in Limerick is parked for now

THE Competition and Consumer Protection Commission (CCPC) has announced it is to conduct a full investigation into the proposed acquisition of Park Rite by it's rival Q-Park Ireland.

Both companies are involved in the provision of car parking infrastructure, car park management and associated services in Limerick and several other locations across Ireland.

The CCPC was notified of the proposed takeover in August and in a statement, issued just before Christmas, it confirmed it is to carry out a "phase 2 investigation" - stalling the deal for now.

"Following an extended preliminary investigation, the CCPC has determined that a full investigation is required in order to establish if the proposed transaction could lead to a substantial lessening of competition in the State," said a spokesperson.

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Q-Park Ireland, which is ultimately owned by a Dutch multinational, has car parking operations across Europe. In Ireland it is an off-street parking infrastructure owner and operator that is active in Limerick, Cork, Dublin, Galway and Wicklow.

The CCPC has not given a reason for its decision but will do so early next year.

Q-Park is Dutch multinational was car parking operations across Europe. In Ireland it is an off-street parking infrastructure owner and operator that is active in Cork, Dublin, Galway, Limerick and Wicklow.

Park Rite, which is owned by Tazbell Services DAC, provides car parking management services, on-street parking enforcement services, toll operations services and parking consulting services in Limerick, Dublin, Galway, Kilkenny, and Offaly.

The CCPC says it received third-party submissions during the Phase 1 investigation and any parties who would like to make further submissions can do so by  4.30pm on Tuesday 10 January 2023.