Towne Park Expands Commercial Parking Business Portfolio
2024年5月17日 - 2:52AM
ビジネスワイヤ(英語)
Acquisition of 100+ Commercial Parking
Operations Supports Growth Strategy and Significantly Enhances
Towne Park’s Presence in the Nashville Market
Towne Park (or the "Company"), a leading tech-enabled,
multi-service parking and hospitality solutions provider, today
announced the acquisition of 100+ commercial parking locations
nationwide. This acquisition significantly enhances its commercial
parking operations, while also expanding its footprint and market
leadership in the attractive Nashville, TN market. Financial terms
of the transaction were not disclosed.
Founded in 1988, Towne Park leverages its industry-leading
technology and human capital platform to provide exceptional client
and customer experiences, all while driving enhanced profitability
for clients through revenue-generating solutions. With these
additional commercial parking facilities, Towne Park aims to
address the growing demand for safe, efficient and convenient
parking solutions while upholding its commitment to delivering
exceptional customer experiences and profitable parking services
for its clients.
This acquisition, which supports Towne Park’s growth strategy,
includes 100+ locations nationwide, and brings an additional
25,000+ parking spaces to the Towne Park portfolio with a
significant concentration in Nashville, as well as a presence in
the Houston, Knoxville, Los Angeles and Washington, D.C. markets,
among others.
“The addition of these new facilities demonstrates our
commitment to pursuing strategic acquisitions that allow us to
build on our national presence and broaden our service offering,
while simultaneously complementing our industry-leading,
data-centric platform for innovative parking solutions,” said
Andrew Kerin, CEO of Towne Park. “By expanding our commercial
parking business, we are strengthening the ability to meet the
various parking needs of our clients and customers and increasing
our presence in the important Nashville market. We are excited to
welcome new employees to Towne Park and are committed to providing
a seamless transition and the same experience our clients and
customers have come to expect.”
Grant Thornton acted as financial advisor and Kirkland &
Ellis acted as legal advisor to Towne Park.
About Towne Park Towne Park is the leading tech-enabled,
multi-service parking and hospitality solutions provider serving
premier hotels, healthcare institutions, residential properties and
commercial parking facilities nationwide. Supported by more than
11,000 team members, Towne Park is the only company with a
comprehensive suite of parking, mobility and hospitality solutions
focused on delivering exceptional experiences from arrival through
departure. For 35 years, Towne Park has been committed to providing
the best team, the best service and the best solutions that drive
revenue and enhance our clients’ brands creating smiles with the
millions of guests, patients and visitors we proudly serve. For
more information, visit www.townepark.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240515976217/en/
Media Drew Brown / Julie Rudnick FGS Global
TownePark@fgsglobal.com