The Estonian parking operator "Ühisteenused" has acquired 100% of the capital of the Latvian company "Cityparks Latvija", the enterprise reported to the LETA agency.
The amount of the deal is not disclosed.
Before the deal, 40% of the capital of "Cityparks Latvija" belonged to the Estonian company "Osauhing Toystor", while 30% belonged to the companies "Alvarium" and "Lectum Invest", also registered in Estonia, according to data from "Firmas.lv".
As noted by representatives of the companies, this deal represents an important step in the consolidation of the parking market in the Baltic countries and opens up the opportunity to implement in Latvia the proven digital solutions and customer service standards used in Estonia.
After the deal, "Cityparks Latvija" plans to implement the "Parkner" application, which provides contactless payments and makes the digital solution used in Estonia available to Latvian drivers as well.
"Ühisteenused" is the market leader in Estonia, managing more than 1000 paid parking spaces in eight cities, including both open parking lots and multi-storey car parks.
Gundars Smans, a board member of "Cityparks Latvija", noted that the experience and scale of "Ühisteenused" will allow the implementation of solutions in Latvia that have significantly improved the customer experience in Estonia. "The company's goal is not just to administer parking, but to become a benchmark for quality in the industry," he emphasized.
"Cityparks" operates in 12 cities in Latvia.
"Ühisteenused" belongs to a group of Estonian investors, whose portfolio includes companies operating in the fields of infrastructure, services, and technology throughout the Baltic region.
The company "Cityparks Latvija" was registered in November 2013, with a share capital of 93,000 euros. In 2024, its turnover amounted to 2.513 million euros, and profit was 226,052 euros, according to data from "Firmas.lv".
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