Car parking management firm, Q-Park is to acquire Tazbell after the deal was cleared by the Competition and Consumer Protection Commission, subject to legally binding commitments.
Tazbell provides car parking management services, on-street parking enforcement services, toll operations services and parking consulting services in Dublin, Galway, Limerick, Kilkenny, and Offaly.
The CCPC identified potential competition concerns relating to the supply of off-street car parking in parts of Dublin city centre and Galway city centre during the course of a full investigation.
These potential concerns included an increase in market concentration through the loss of close competition between Q-Park and Tazbell resulting in higher prices for car parking customers in Dublin and Galway. To address these potential concerns, Q-Park made a number of binding commitments to the CCPC.
As a result of these commitments, in Galway, the top level of Tazbell's current car park is to be leased to a new entrant to the Galway market, an online parking provider, which will operate in competition with Q-Park, on a long term basis.
Following the transaction, Q-Park has agreed to cease operation of one of its Dublin city centre car parks at the expiration of the existing contract, allowing another competitor to bid for the contract to operate that car park.
An independent monitoring trustee will be appointed, who will have all the rights and powers necessary to monitor compliance with the commitments.
The CCPC has determined that the proposed acquisition will not substantially lessen competition and, as a result, can be put into effect.
