The competition watchdog has cleared car-park operator Q-Park’s proposed acquisition of the company that owns Park Rite, subject to a number of conditions.

The Competition and Consumer Protection Commission (CCPC) decided late last year to carry out a full investigation into the deal.

Q-Park had announced plans to buy Tazbell Services Group, which is involved in car-park management, on-street parking enforcement, toll operations, and parking-consulting services in Dublin, Galway, Limerick, Kilkenny, and Offaly.

Q-Park provides services in Cork, Dublin, Galway, Limerick, and Wicklow. It is owned by a Dutch-incorporated company called Q-Park Holding BV.

Off-street parking

The CCPC’s probe identified potential competition concerns linked to the supply of off-street car parking in parts of Dublin city centre and Galway city centre.

These potential concerns included an increase in market concentration through the loss of close competition between Q-Park and Tazbell.

To address these potential concerns, Q-Park has made a number of legally binding commitments to the CCPC.

New Galway entrant

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 that will operate in competition with Q-Park.

Q-Park has also agreed to cease operation of one of its car parks in Dublin city centre when its existing contract expires. The CCPC says that this will allow another competitor to bid for the contract to operate that car park.

An independent monitoring trustee will be appointed to monitor compliance with these commitments.