Herbert Smith Freehills Kramer advises EQT on acquisition of Orikan

Herbert Smith Freehills Kramer (HSF Kramer) has advised EQT Group on the acquisition of Orikan, a provider of integrated parking, enforcement, and compliance technology solutions, from Five V Capital.

Orikan was founded in 2022 through the merging of Australian smart cities company DCA Cities and New Zealand parking technology company Global Parking Solutions. It provides integrated parking operations and enforcement and infringement management services, supported by software, hardware, payments and data capabilities designed and operated by the company.

Headquartered in Melbourne, Orikan serves hundreds of government and private sector customers, including universities, airports, hospitals, and stadiums, across Australia, New Zealand, and North America.

EQT will partner with Orikan’s management team to support the company’s next phase of growth through continued investment in service delivery, product development, customer operations, and data and AI capabilities.

The HSF Kramer team was led by partner Raji Azzam, with support from senior associate Damien Devnarain and solicitors Lachie Haysman, Angela Liu, and Rosalind Wei.

Raji Azzam commented, "We are proud to have worked with the team at EQT again on this investment, which continues the build-out of its Asia mid-market strategy."

This deal is the latest example of HSF Kramer’s market-leading work in private equity. Other examples include advising: 

• Axight on the acquisition of Estia Health as part of a Stonepeak-led consortium 
• The Growth Fund on the sale of Black Mount Spring Water and AFS Logistics 
• Kinetic on its acquisition of Dysons 
• Astralas on its merger with Quadrant’s Bastion Security Group 
• Kinetic and its management team on the sale of a 70 percent stake in the business to US alternative asset management firm TPG 
• The Riverside Company on the acquisition of Dingo Software 
• The Carlyle Group on its acquisition of Waste Services Group from Livingbridge via a competitive auction process 
• Adamantem Capital on its acquisition of Mason Stevens by way of scheme of arrangement