The Stockport-headquartered company with 45 employees has been snapped up by SP+ Corporation, a US-based provider of technology-driven mobility services for aviation, commercial, hospitality and institutional clients throughout North America.
KMP is a software and technology provider serving aviation and commercial parking clients throughout the US and Europe. Its current offering is set to increase SP+'s footprint in across Europe and the US, with the company's technology deployed at more than 35 airports in the two continent, with in excess of 100 commercial parking locations across Europe.
Operating under the AeroParker and MetroParker brands, KMP provides online booking for parking and other travel services, dynamic pricing, and e-commerce capabilities which are designed to reduce congestion, enable frictionless transactions and provide a first-class consumer experience.
In addition, KMP also provides comprehensive digital marketing capabilities through its digital marketing agency, KMP Digitata.
Marc Baumann, chairman and chief executive of SP+, said: "The acquisition of KMP is aligned with our strategy of complementing organic growth with acquisitions that further strengthen our industry-leading technology capabilities, particularly in those areas that support digital transactions and the development of smart cities."
Rhodri Edwards, president of KMP, said: "With the support of SP+, we will have the ability to accelerate our growth to meet the rapidly expanding demand for our services. Given the complementary nature of our solutions and services, we envision significant opportunities to bring additional value to our clients.
"Importantly, this is an excellent cultural fit for us, given our compelling value propositions and mutual commitment to superior client service and to the well-being of our talent."
The acquisition marks another North West-based business being acquired by a US-buyer, following Grant Thornton’s corporate finance team advising on the sale of Wirral company Parity Medical earlier this year.
KMP were advised by a team led by partner and Northern head of corporate finance Peter Terry, assisted by Chris Ryan, Alex Parry and Cariad Lightfoot.
Peter Terry said: "KMP has created a fantastic software solution and there was strong demand for its scalable and portable technology. It is a brilliant strategic acquisition for SP+ and we are confident the team will thrive with additional resource the new ownership will bring."
Other advisers working on the transaction on the sell side includes law firm Slater Heelis (Simon Wallwork and Mark Warburton).