VINCI Park becomes second biggest car park operator in Canada
4 February 2008 - Acquisitions - Canada
VINCI Park has acquired Ideal Parking, which operates almost 53,000 parking spaces in Canada.
Ideal Parking’s portfolio consists of more than 150 contracts (long-term leases and operating contracts) and one freehold car park. It includes in particular the car parks at Pearson International Airport in Toronto.
Ideal Parking has business activities in both the east of the country (Montreal, Ottawa and Toronto) and the west (Calgary and Vancouver). These strengthen VINCI Park’s leadership position in the east and give it a significant market position in the west.
This strategic acquisition makes VINCI Park the second biggest car park operator in Canada, increasing the number of spaces it manages from 70,000 to over 120,000 and extending its coverage in the main cities of the country’s most dynamic provinces and business centres. In 2007, VINCI Park and Ideal Parking’s total revenue exceeded C$40 million (approximately €28 million).
VINCI Park, market leader in Europe and a major operator worldwide, now operates 1,090,000 parking spaces in Europe and North America.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 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.