VINCI Park continues expansion in the United States
18 March 2008 - Acquisitions - United States of America
Three months after acquiring a 50% interest in LAZ Parking (operator of 225,000 car park spaces in 77 towns), VINCI Park is continuing to expand in the United States by starting up operations in the south and west of the country.
The two latest developments, carried out through LAZ Parking, were:
– The acquisition of Sunset Parking Services, which was founded in San Diego, California. Operating in Orange County, Los Angeles and San Diego since 1981, the company manages almost 11,700 spaces in 140 car parks. It has 500 employees and generated revenue of $18.5 million in 2007.
With recognised expertise in the management of hotel car parks and valet parking, Sunset Parking gives VINCI an interesting foothold in an area where the concentration of private cars per inhabitant is the highest in the country.
– The acquisition of a series of commercial leases and management contracts covering 15 car park facilities and about 80 off-street car parks, representing a total of over 15,000 spaces in Texas and New Mexico, mainly in Dallas, Austin, Houston and San Antonio.
VINCI Park, Europe’s leading car park operator and one of the biggest worldwide, currently manages 1.1 million car park spaces in Europe and North America.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein 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, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible 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. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.