Half of Laz Parking Sold to the French

Here’s the news release:

HARTFORD LAZ Parking is pleased to announce
that VINCI Park has purchased a 50% partnership interest
in LAZ Parking. VINCI Park, headquartered in Paris, France is the world’s leader in the parking concession business.

VINCI Park operates over one million parking spaces in more than 350 cities and 15
countries throughout the world.  “We strongly believe that LAZ Parking is the best parking
operator in the United States. We are excited to partner with LAZ and to help
promote the expansion of LAZ Parking throughout the United States, which is consistent
with our growth strategy,” said Philippe Princet, VINCI Park Vice President of
International Operations.  

LAZ Parking presently operates over 225,000 parking spaces
throughout the United States,
including such major cities as Boston, New York City, Washington, D.C. Atlanta, Miami, Chicago and Dallas. With over 2,000 employees and operations in
77 U.S.cities, LAZ Parking operates 360 parking facilities under service contracts or
long term leases in a wide variety
of venues, including city centers, hotels, hospitals, universities,
municipalities and various mixed -use
projects. 

“The LAZ/VINCI Park partnership will create tremendous
opportunities for our clients and our employees,” said Alan
Lazowski, Chairman and CEO of LAZ Parking. “We will continue our significant organic
growth and expand our platform by acquiring additional parking companies in
strategic markets throughout the United States.”

Alan and his crew have become the movers and shakers having just partnered with Morgan Stanley and are running the four garages in Chicago what the merchant bank leased from the Windy City. He has also opened an investment division and I expect we can see more purchases from him in the months to come.

JVH