Law firm Addisons has advised on another peer to peer platform deal, advising Spacer Technologies Pty Ltd (Spacer) on its acquisition of Where I Park Inc, after advising Car Next Door on its sale to Uber in January 2022.
Spacer’s acquisition will ramp-up its rapid expansion into the North American parking marketplace, beyond its existing markets there and in Australia.
Spacer Technologies was created in 2016 to assist asset owners monetise their parking, storage and warehousing space by facilitating transactions with renters via its platform.
The Addisons team advising Spacer was led by Managing Partner Kieren Parker, Consultant Michael Ryan and Solicitor Max Jamieson.
Roland Tam, Spacer’s Chair & Founder said of the transaction “Addisons is our go-to firm because they always take a technically sound yet commercial approach to transactions. We are very grateful for the long hours Kieren, Michael and Max put into this project, and the way they navigated some complex and challenging cross-border issues in the North American market. They are the perfect legal partner for fast growing businesses as they evolve.”
Kieren Parker said, “Congratulations to Roland Tam, Michael Rosenbaum and the Spacer Technologies team on closing this strategic transaction. The acquisition of Where I Park supports Spacer’s growth trajectory by giving it an established foothold to scale in the all-important North American market.”