LAZ Parking Acquires InterPark Contracts

LAZ Parking is pleased to announce today, the acquisition of 89 parking operating contracts consisting of 30,527 parking spaces from InterPark, a Chicago based parking company with regional operations in Chicago, Pittsburgh, Atlanta, Philadelphia and Washington, D.C.
These 89 venues include managed, leased and owned facilities that are located in five key markets: Philadelphia, Washington, D.C., Atlanta, Orlando and the Tampa region. The InterPark acquisition represents a wonderful expansion opportunity for LAZ throughout the East Coast parking markets where we already have an operating presence, said Alan Lazowski, Chairman and CEO of LAZ Parking. InterPark is one of the premier operators in the country employing a tremendously talented and dedicated staff. We look forward to serving InterParks operating partners and clients with the same high standard as they currently enjoy. LAZ will continue its mission of creating opportunities for our employees and value for our clients.

According to Doug Poirier, COO for InterPark, We look forward to partnering with LAZ Parking as they have a strong customer service culture. When shopping for a buyer, we were attracted to LAZ for various reasons. We knew they would provide a good home for our employees; they would take good care of our landlord/client group and would operate the InterPark-owned assets in those markets in a professional and conscientious manner.

About LAZ Parking

laz-parking.gif Founded 1981 and headquartered in Hartford, Connecticut with a single valet location, LAZ Parking has grown to one of the largest parking companies in the country, specializing in the management, leasing, ownership and development of parking facilities throughout the United States. In addition to Hartford, the company has regional offices in Atlanta, Boston, Chicago, Dallas, Houston, Miami, New York, Philadelphia, San Diego, Los Angeles, San Francisco, Baltimore and Washington, D.C. With the InterPark acquisition LAZs annual managed revenues will exceed $500 million at 1,300 parking facilities, encompassing 435,000 spaces in 21 states and 99 cities. Through the tremendous dedication of over 6,000 talented employees, LAZ has grown to become one of the top parking companies in America.

In 2007 LAZ formed a partnership with VINCI Park, the worlds leader in the parking concession business. VINCI Park operates over 1.2 million parking spaces in more than 350 cities and 12 countries throughout the world.
LAZ Parking
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