VINCI Park enters the United States market
VINCI Park has acquired a 50% partnership stake in LAZ Parking, a company that manages over 225,000 parking spaces throughout the UnitedStates.
LAZ Parking, one of the country's largest car park operators, wascreated in 1981. Based in Hartford, Connecticut, LAZ Parking hassignificant operations throughout the United States,including such major cities as Boston, New York City, Washington D.C.,Atlanta, Miami, Chicago and Dallas. With over 2,000 employees andoperations in 77 U.S. cities, LAZ Parking will generate revenue excessof $90 million in 2008. LAZ Parking operates 360 car parks underservice contracts or long-term leases, in a wide variety of venues:city centers, hotels, universities, hospitals, municipalities andvarious mixed-use projects, ...
VINCI Park established a presence in Canada some 10 years ago and nowhas almost 70,000 spaces under contract in Canada. The new acquisitionestablishes VINCI Park in the world's largest parking market, where itwill partner with one of the premier parking operators, withtop-quality management and a successful track record of significantgrowth.
This transaction is part of VINCI Park's strategy aimed at balancingits operations in high-potential markets in Europe and North America.It will enable VINCI Park to support LAZ Parking's growth by giving itthe benefit of its internationally recognized experience and thehigh-quality image it has acquired by providing services to motorists.
VINCI Park, Europe's no. 1 car park operator and world leader in theoperation of car parks under concession contracts, now manages over 1million on-street or car park spaces in Europe, North America and Asia.
About VINCI
VINCI is a world leader in concessions, energy solutions and construction, employing 285,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.