VIG Partners to sell HiParking to Humax for $140m.

South Korean private equity firm VIG Partners agreed to sell HiParking, a car park management firm, to Humax, a consumer electronics company, for $140m. VIG managing partner Chulmin Lee said, “HiParking has been a market-leading player in the parking management industry in Korea since VIG’s acquisition. VIG further solidified its dominant position by acquiring the competitor, Wilson Parking Korea (currently named Hi City Parking), in December 2018. VIG was convinced that the parking management service will serve as a bedrock to the mobility platform services in the near future.”