EQT to Acquire Parking Technology Firm Orikan

Private equity firm EQT has agreed to acquire Orikan, a Melbourne-based company specializing in integrated parking operations, enforcement, and compliance technology. The transaction is being made through EQT's BPEA EQT Mid-Market Growth Partnership fund and is subject to customary approvals.

Orikan employs nearly 400 staff and serves hundreds of government and private sector clients, including local authorities, universities, airports, and hospitals across Australia, New Zealand, and North America. Its offerings combine proprietary software, hardware, payment systems, and data analytics for the full parking lifecycle.

EQT plans to invest in Orikan's product innovation, artificial intelligence and data capabilities, service delivery, and customer experience to support its international expansion. This move aligns with EQT's broader strategy of investing in mid-market companies in the Asia Pacific region, backed by its USD 1.6 billion fund.

Nicholas Macksey, Co-Head of EQT Private Capital Asia, stated that Orikan's alignment with EQT's focus on technology-enabled businesses with strong customer relationships presents opportunities for growth. Orikan CEO Peter Neale indicated the partnership will support continued investment in the company's people, technology, and services.