Standard Parking Announces Pending Merger of Sound Parking Operations in Seattle, Washington

Sound Parking, a privately-owned enterprise based in Seattle, Washington, currently operates 55 parking locations and 2 shuttle operations. Sound's parking operations encompass more than 5,500 parking spaces in the Seattle and Bellevue, Washington metropolitan parking markets and include office, medical, hotel and event parking properties.

Once the transaction is consummated, Sound Parking's principals, William Beattie and Brad Parrish, will become Standard Parking employees with overall responsibility for the management and growth of all of Standard Parking's non-airport operations in the States of Washington, Oregon, Idaho and Alaska. In commenting on the pending merger of operations, James A. Wilhelm, Standard Parking's President and Chief Executive Officer, said that "Sound Parking's operations are an excellent fit with our business model, and we are delighted and fortunate to gain the hands-on skill and expertise of Bill Beattie and Brad Parrish to oversee our continuing growth in the Pacific Northwest." Brad Parrish, Sound Parking's President, stated that the merger was "an exciting opportunity to bring two highly successful companies together in the northwest to provide an exceedingly high level of service to our current and future clients."

Standard Parking's agreement to consummate the transaction is subject to the satisfaction of certain conditions and is expected to close in the fourth quarter of this year.