Impark Acquires Assets of Pacific Park Management
September, 2014
Imperial Parking Corp. (“Impark”) has completed acquisition of the assets of Pacific Parking Management (PPM), a parking management company based in San Francisco. Terms of the transaction were not disclosed.
The acquisition encompasses parking operations at 49 facilities in the San Francisco Bay Area, and includes two prominent garages owned by the San Francisco Municipal Transit Authority (SFMTA): the Civic Center Garage and Performing Arts Garage. As part of the transaction, Impark also will assume responsibility for the Bay Area Rapid Transit online parking reservations system and the event parking management at 34 BART stations.
PPM was founded in 1995 by Behailu Mekbib and Sam Tadesse, who will continue to be involved through a transition period. “The team at Pacific Park Management has worked hard to develop strong relationships with customers and clients, and I am confident Impark will continue to deliver excellent service,” Tadesse said.
“We are very pleased to have concluded this transaction,” said Allan Copping, Impark President & CEO. “The addition of the Pacific Park Management portfolio accelerates Impark’s solid history of growth in the Bay Area, and we look forward to continuing to build on the high benchmark set by PPM for these operations.”
With the acquisition complete, Impark said it had cemented its position as one of the leading operators in the Bay Area, adding the new facilities to its current portfolio, which includes parking at AT&T Park for the MLB Giants, the SFMTA Fifth & Mission and Golden Gateway garages, as well as Embarcadero Center and historic Fort Mason.
[Source: Impark]
The acquisition encompasses parking operations at 49 facilities in the San Francisco Bay Area, and includes two prominent garages owned by the San Francisco Municipal Transit Authority (SFMTA): the Civic Center Garage and Performing Arts Garage. As part of the transaction, Impark also will assume responsibility for the Bay Area Rapid Transit online parking reservations system and the event parking management at 34 BART stations.
PPM was founded in 1995 by Behailu Mekbib and Sam Tadesse, who will continue to be involved through a transition period. “The team at Pacific Park Management has worked hard to develop strong relationships with customers and clients, and I am confident Impark will continue to deliver excellent service,” Tadesse said.
“We are very pleased to have concluded this transaction,” said Allan Copping, Impark President & CEO. “The addition of the Pacific Park Management portfolio accelerates Impark’s solid history of growth in the Bay Area, and we look forward to continuing to build on the high benchmark set by PPM for these operations.”
With the acquisition complete, Impark said it had cemented its position as one of the leading operators in the Bay Area, adding the new facilities to its current portfolio, which includes parking at AT&T Park for the MLB Giants, the SFMTA Fifth & Mission and Golden Gateway garages, as well as Embarcadero Center and historic Fort Mason.
[Source: Impark]
