Towne Park Acquires Quality Parking Service

Today, Towne Park officially announced the acquisition of greater Los Angeles parking management company, Quality Parking Service, Inc. This move brings Towne Parks west coast presence to over 110 accounts and 1,300 plus associates. The acquisition included considerable event services and commercial parking management accounts.
Quality Parking has established a strong presence and rapport in the greater Los Angeles area with an impressive customer portfolio which complements Towne Parks. Their extensive commercial parking expertise further balances the combined market presence. With similar cultures, talented and tenured associates, service centralism, and leveraging of best practices, the combined companies will create a stronger base in the Los Angeles market and the entire west coast.

Towne Parks Founder and current CEO, Jerry B. South, shared this about the Quality Parking Service acquisition:

The addition of Quality Parking to our portfolio of accounts in the greater Los Angeles area gives Towne Park the market position to fuel organic growth in one of the top three cities in the country. In addition to the impressive client list within the Quality portfolio, we could not be more excited about the new teammates who now join the Towne Park family! The talent, alignment and energy of the Quality Parking management team made this acquisition a no brainer for Towne Park. Quality Parking founder Ben Akbary has done a magnificent job of developing deep relationships with the Los Angeles business community. Couple that foundation with Towne Parks support structure and available resources and we will double our collective market share in less than three years, while providing growth and career opportunities for all Towne Park associates.

This is Towne Holdings fourth acquisition in five years. Other acquisitions have included Dallas-based MEDiPark Valet Services, Inc. (2005), Mile Hi Valet Service, Inc. of Denver, CO (2008) and, most recently, Overland Park, KS-based Avascend Healthcare Hospitality (2009), launching Towne Park into the healthcare vertical. As a result of the four acquisitions, Towne Park now operates in over 50 markets in 34 states nationwide and serves over 400 accounts including hotels and resorts, healthcare facilities, casinos, and numerous restaurants, residences, entertainment venues, mixed-used complexes, and other locations. Towne Park employs over 6,500 associates nationwide.

As privately held enterprises, Towne Park and Towne Holdings do not disclose financial information about acquisitions or other business matters.

About Quality Parking Service, Inc.

Quality Parking Service Inc. is a full service parking management company headquartered in Los Angeles, California. Our company was founded based upon the simple philosophy of total commitment to the success of our clients' parking operations.

We have earned a reputation among our patrons and peers as a company that is truly concerned with our clients best economic interests. At Quality Parking Service, Inc. we take pride in providing distinguished personalized service while producing and maintaining some of the highest levels of profitability for our clients and their locations.

About Towne Park

Towne Park is Americas valet parking and parking management experts. On behalf of our 400 plus hospitality and healthcare clients, we welcome thousands of guests and patients every day from coast to coast. Serving people is our passion and we are driven to serve with excellence in all we do.

Towne Park ranked #2147 on the 2010 Inc. 5000 List of Americas Fastest-Growing Private Companies and ranked #8 on the 2010 Inc. 5000 Top 10 Job Creators. Towne Park was named on the inaugural Inc. 5000 List in 2007 and appeared again in 2009.
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