RWK Goodman advises the shareholders of Newpark Solutions on acquisition by Trust App

Trust App Ltd has announced it has completed the acquisition of Newpark Solutions Ltd, a market leader for ticketless ‘pay on foot’ parking solutions.

Bristol-based Newpark Solutions is an industry leader in ticketless parking systems and the only manufacturer of such systems in the UK. The company develops bespoke software solutions in-house and has over 15 years of experience providing parking solutions.

Newpark Solutions were advised by an RWK Goodman team comprising of James Worrall, Yasmine Qasim and Janetta White. Trust App were advised by Pinsent Masons.

James Worrall, Corporate Partner at RWK Goodman, commented: “We have worked with Newpark Solutions for a number of years and it’s great to have delivered a success outcome for the shareholders. Newpark Solutions have found a fitting acquirer in Trust App that will enable the business to go from strength to strength.”

Darren Nurse, General Manager at Newpark Solutions, commented: “I truly feel that what Trust are looking to achieve will be the future of our industry and that is why I am so excited that we could be a part of it.”

Established in 2019, Trust App Ltd is a UK-based, venture backed computer vision technology company.

Matt Cook, Co-founder at Trust, commented: “We are delighted to add the years of technical excellence Newpark brings to our offering and are excited about the opportunities this unlocks for us moving forward. Incorporating Newpark’s technology into our tech stack is the missing piece to being able to launch our new app - Trust.”