Towne Park Announces Acquisition of Parking Solutions, Inc.

Towne Park, a leading provider of specialized hospitality and healthcare services, today announced its acquisition of Parking Solutions, Inc. (PSI), a privately held parking management company specializing in the healthcare environment. The acquisition will give Towne Park an even stronger footprint in the healthcare market and provide its clients with a greater array of services, value and geographic coverage in support of their goal to drive higher patient satisfaction.

The combined companies form the nation’s leading provider of healthcare and hospitality services – serving over 300 healthcare locations and well over 400 4-Star and 5-Star hotels spanning 50 major markets.

“I’m thrilled by the combination of our two companies. The pairing strengthens our healthcare business, brings substantial leadership talent with a shared vision of culture and adds several high-profile accounts, including the Cleveland Clinic to the Towne Park platform. Aaron Shocket has built an accomplished company and team which are now part of a much larger successful company and team.” - Chuck Heskett, CEO and President of Towne Park

Founded in 1991 and headquartered in Columbus, OH, PSI’s solutions are used by leading hospitality and healthcare organizations. The company manages over 100 accounts and employs over 1,700 team members throughout the Midwest.

PSI’s service offerings – which include valet parking, garage and lot management, shuttle services, ambassadors, concierge, traffic control, special events, and consulting – provide a highly customizable approach focused on enhancing patient satisfaction.

Aaron Shocket, PSI President and CEO, added “I am absolutely delighted that PSI’s clients and employees are joining Towne Park. Both PSI and Towne Park are built upon a passion to serve, and this service-oriented culture will be strengthened by Towne Park’s depth of operational experience. Chuck has put together a wonderful mix of talent and he and his team have a strong vision for the future. Together, we look forward to providing a maximum value to our customers. PSI is excited to be part of the ongoing success of Towne Park.”

PSI will remain in its Columbus, OH location and operate as a business unit of Towne Park.

About Towne Park

With headquarters in Annapolis, Maryland, Towne Park’s 11,000 associates deliver hospitality services to more than 650 hotels, hospitals, casinos, and commercial locations in 39 states across the country. Towne Park is a 7-time honoree of Inc. Magazines 500/5000 list of “America’s Fastest Growing Private Companies.”

About Parking Solutions, Inc.

With headquarters in Columbus, OH, PSI is a leading provider of parking management and valet services in the healthcare industry with more than 100 locations and 1,700 employees primarily throughout the Midwest.