Jan. 3, 2013
/PRNewswire/ - Imperial Parking Corporation ("Impark"), one of
leading parking operators, today announced it has completed the acquisition of City Center Parking, a parking management company based in
. City Center Parking operates 198 parking facilities in
. The terms of the transaction were not disclosed.
City Center Parking's managing partners, Greg &
, will continue to be involved in the business on an ongoing basis. Commenting on the transaction,
stated, "The Company was started by our grandparents and grew substantially through the efforts of my father,
. In selling our parking business we were looking for a buyer who would continue the commitment to playing an active role in the
community. We have every confidence that Impark is an extremely capable custodian for the company going forward, so much so that we agreed to enter into long-term operating contracts with Impark to manage all 28 of our family's properties used for parking."
added, "Due in large part to the hard work of our 460 dedicated employees, City Center Parking has built long standing relationships with its clients and customers, and we know that Impark will continue to honor those relationships, as well as offer both the clients and parking customers a new level of expertise and technology".
The acquisition of City Center Parking expands Impark's presence in the
Western United States
, and solidifies its position as one of the largest parking management companies in
, Impark's Chief Executive Officer, said of the transaction, "We are delighted to have completed the acquisition of such a well-established company and look forward to continuing to deliver on its long standing service reputation".
Impark plans to continue to operate the business with by the same day-to-day management team.