Nayax to buy smart-parking firm IPS Group for $350M
What's the deal? Nayax (Nasdaq/TASE: NYAX) has signed a definitive agreement to acquire smart parking and curb management provider IPS GroupDealroom has a profile for this one. Try Dealroom → from Windjammer Capital InvestorsDealroom has a profile for this one. Try Dealroom →. The all-cash deal values IPS at $350 million on a cash-free, debt-free basis.
What does IPS do? The San Diego company runs a smart parking platform managing more than 250,000 parking spaces. Its management is expected to keep leading the business after the deal closes.
The numbers: IPS is projected to generate over $90 million in revenue in FY 2026, with more than 60% recurring, around 20% organic growth versus 2025, and about $21 million in adjusted EBITDA. The price represents roughly 17x 2026 estimated adjusted EBITDA, or about 12x including expected run-rate synergies of more than $8 million by 2029.
How it's funded: Nayax will use cash on hand plus about $150 million of new committed debt. That lifts estimated net leverage to 3.8x at closing, which the company aims to bring below 3.0x by the end of 2027.
What's the endgame? Nayax says the deal will be immediately accretive to gross margin, adjusted EBITDA margin, adjusted EPS, and free cash flow conversion. It also expands the company's addressable cashless opportunity to roughly $342 billion by 2029.
What could go wrong? The upfront multiple is high at 17x before synergies, and those synergies are only expected to fully materialise by 2029 — implying a multi-year integration. Closing is anticipated in Q4 2026, subject to regulatory approvals.
The signal: The acquisition pushes Nayax deeper into cashless payments beyond its core vending and unattended retail base, betting that parking and curb management are among the next large surfaces to move off cash.
Read more: stocktitan.net
Image credit: Jun Seita
