News

CORDET has provided a loan to Creative Parking Solutions

CORDET has provided a loan to Creative Parking Solutions

CORDET has provided a loan to Creative Parking Solutions (“Creative”), a majority Management owned company. The purpose of the financing package is to support the acquisition of a minority stake in Creative.

Founded in 1995 as a traditional car park management service company and re-invented in 2005 to utilise the benefits of digitalisation, Creative is a UK private car park operator that offers fully automated Automatic Number Plate Recognition (“ANPR”) enforcement services. Creative’s ANPR system, TrafficGuard, was the first system of its kind implemented in the UK and allows parking tickets to be issued to drivers by post if they overstay the permitted parking time allocated or are not a permitted user.