ParkCloud to expand shareholder base

Mark Pegler of ParkCloud, with Jill Williams and Matt Molyneux of Mercia

Mark Pegler of ParkCloud, with Jill Williams and Matt Molyneux of Mercia

Parking reservation specialist ParkCloud is expanding its shareholder base with investment partner Mercia Fund Managers allowing the company to move forward with a new ownership structure.

Mercia Fund Managers’ equity stake, which has been invested through funding from its £45.1m EV Growth II Fund, will enable co-founders Joe Kennedy and Mark Pointon to step down, and ParkCloud’s founder and current managing director Mark Pegler to focus on the continued growth of the company...

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