Standard Parking Corporation (Nasdaq:STAN), a leading provider of parking and related products and services to commercial, institutional and municipal clients throughout North America, today announced the Company's plan to operate under a common brand, SP+, in the future.
The Company currently operates its transportation, maintenance and security product lines under the SP Plus® brand introduced several years ago. The decision to present the Company's assorted products under a refreshed SP+ brand and new logo reinforces the transformational significance of the October 2012 merger of Standard Parking and Central Parking. The Company today is a single-source provider of an array of industry-related products throughout North America.
During the next several months, the Company will debut a new logo, website and updated brand materials to begin the process of unifying the corporate image and long-term brand identity. The Company's existing SP Plus® product lines (SP Plus® Transportation, SP Plus® Maintenance and SP Plus® Security Services) and market-based operating divisions (SP Plus® Airport Services, SP Plus® Municipal Services, etc.) are expected to take on the new SP+ look by the end of 2013.
For an interim period, the Company's parking facilities will continue to operate under their Standard Parking and Central Parking names to leverage their existing brand recognition while they are linked to the Company's new SP+ identity. The Company expects the transition of these legacy parking operations to the SP+ brand to begin sometime in 2014. USA Parking System, a wholly-owned subsidiary of Central Parking and one of the premier valet parking operators in the country, will not be affected by the brand change.
"Today's announcement marks a key milestone in the process of unifying our product lines and services under a common brand," said James A. Wilhelm, Standard Parking's President and Chief Executive Officer. "The '+' in our new brand underscores our ongoing commitment to delivering added value to clients and consumers through innovation and diverse subject matter expertise."
About Standard Parking Corporation
Standard Parking is a leading national provider of parking facility management, ground transportation and other ancillary services. Including Central Parking Corporation, its wholly-owned subsidiary, the Company has approximately 23,000 employees and manages approximately 4,400 facilities with more than 2.1 million parking spaces in hundreds of cities across North America. The operations include parking-related and shuttle bus operations serving 75 airports. USA Parking System, a wholly-owned subsidiary of Central Parking, is one of the premier valet operators in the nation with more four and five diamond luxury properties, including hotels and resorts, than any other valet competitor.