‘Impark’ Acquires ‘City Park’ Operations in San Francisco
Imperial Parking Corp. (Impark), one of North America’s leading parking operators, has completed the acquisition of the assets of San Francisco Parking Inc. (City Park), a parking management company.
Based in San Francisco, City Park operates 85 parking facilities in the Bay Area, including a number of its most prestigious hotels, hospital facilities, and Levi’s Stadium in Santa Clara. The terms of the transaction were not disclosed.
Founded in 1953 by Nicholas and Stephen Leonoudakis, City Park has been managed for a number of years by the founders’ son and nephew, City Park’s CEO, Tim Leonoudakis, who will continue to be involved in the business.
Commenting on the transaction, Leonoudakis said, “The company is truly a family concern that has grown from being one of the first to operate professional parking in the Bay Area, to currently serving more than 16,000 patrons daily.
“In selling our family business, we were looking for a buyer who would continue the commitment to serving clients and parking customers,” he said, “and we have every confidence that Impark is an extremely capable custodian for the company going forward.”
The acquisition makes Impark the largest parking operator in the Bay Area, the company said, and solidifies its position as one of the foremost parking management companies in North America.
CEO Allan Copping said, “We are very pleased to have completed the acquisition of such a well-respected San Francisco company, and look forward to continuing to deliver on its long-standing service reputation.”
Impark executives said it plans to continue to operate the business with the same day-to-day management team.