Central Parking Acquires Assets of Focus Point Parking, the Leader in Remote Management of Parking Facilities

Focus Point technology is currently used to manage parking facilities for high-profile clients in major metropolitan areas such as Houston, Seattle and Atlanta.

Among the assets acquired are the Focus Point Parking service mark (sm) and the infrastructure of the command center for remote monitoring of parking facilities located in Austin, TX. Central Parking has hired several key employees of the business, including an engagement with Clyde Wilson, the founder, entrepreneur and developer of the key technology and interface that drives the business. Mr. Wilson has been a part of the parking industry for most of his career. He is also the co-founder of The Parking Network (TPN), an auditing and consulting company.

Jim Marcum, President and Chief Executive Officer of Central Parking, said, We are excited about this acquisition and its cutting-edge technology. This platform will enable us to provide our clients a new and innovative way to reduce cost while improving service. While this technology will not apply to all parking facilities, it does provide a compelling financial return for certain core self-parking garages in major metropolitan areas, especially those with high labor rates. We expect to be able to roll out this technology to certain markets in short order and leverage this remote management monitoring system to provide superior service to our clients and customers. The Focus Point acquisition fits well with our current initiatives to bring superior technological solutions to the parking industry.

In commenting on the transaction, Wilson stated, The fit with Central Parking, the leading parking company in the United States, was a natural one. The size and footprint of Central Parking will allow us to scale this proven technology quickly, effectively and efficiently. This will allow us to continue to deliver excellent service and support for our clients and their customers. 

About Central Parking

Central Parking is a leader in parking management and marketing, serving large and small property owners, infrastructure funds and governmental clients to maximize service, revenue and value in all geographies and service sectors including: mixed-use developments, office buildings, hotels, stadiums and arenas, airports, hospitals, universities and municipalities. With offices in most major metropolitan areas in the United States, the Company operates approximately 2,300 parking facilities containing 1.1 million spaces and its service brands include: Central Parking System, USA Parking, CPS Parking and New South Parking.