VINCI Park becomes fourth-biggest parking operator in the United States
9 February 2010 - Acquisitions - United States of America
VINCI Park, via its American subsidiary LAZ Parking, has just acquired 89 parking contracts from the company InterPark.
This transaction makes VINCI Park one of the four biggest parking operators in the United States, generating annual revenue for managed activities of approximately 500 million US dollars.
The InterPark contracts cover a total of approximately 30,500 parking spaces, operated within the framework of long-term leases or in the form of provision-of-services contracts. They concern sites located in several large cities in the east of the US, including Philadelphia, Washington, D.C. and Atlanta.
50%-owned by VINCI Park since 2007, LAZ Parking today manages some 1,300 parking facilities across the US, in 99 towns and cities in 21 states, and employs 6,000 people. It has been growing steadily over the last three years, with the number of parking spaces under its management increasing from 225,000 to 435,000.
VINCI Park, the European leader in parking and one of the main players in the sector worldwide, today manages 1,280,000 parking spaces and more than 2,400 parking facilities in 12 European countries and North America.
VINCI is a global player in concessions and contracting, employing close to 211,000 people in some 100 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.