Posts about Acquisitions

Hartford, Conn. – Propark Mobility announced today that the company has acquired Southern Valet & Transportation, a leading provider of valet, transportation, and parking management services in South Carolina. "For nearly two decades, Southern Valet & Transportation has established itself as a trusted partner in the valet and transportation industry,” said David Schmid, Chief Executive Officer of Propark Mobility. "We are thrilled to welcome them into the Propark family. Our shared vision of providing innovative, high-quality services makes this partnership… Continue reading →

Originally published in Parking & Mobility's November 2023 issue.   In the world of parking company acquisitions, it’s not uncommon for companywide changes to occur. After all, combining two companies – each with their own history, values, and legacy – is a vast undertaking. While some owners may want to retire, one way to minimize change and create a smoother transition is by working diligently to retain the acquired company’s entire management team. Here, we’ll discuss why that’s an important… Continue reading →

Washington, D.C. – Propark Mobility announced today that it has entered a strategic joint venture with Atlantic Transportation, a leader in shuttle services throughout Washington, D.C., Maryland, and Virginia. “Both Propark Mobility and Atlantic Transportation strive to deliver five-star shuttle services that prioritize safety, convenience, and customer satisfaction,” said Propark CEO David Schmid. “Through this joint venture, our companies will combine decades of experience and expertise to bring our shared mission to life and set a new standard in parking… Continue reading →

Washington, D.C. – Propark Mobility announced today that it has acquired Atlantic Parking, a prominent parking management company that serves clients and customers in Washington, D.C., Maryland, and Virginia. “We are thrilled to welcome Atlantic Parking and Marty Janis to the Propark family,” said David Schmid, CEO of Propark Mobility. “Their commitment to outstanding customer service, technological innovation, and old-school, hands-on parking management mirrors Propark’s own values, making this a natural fit. Together, we will continue to deliver solutions that… Continue reading →

San Francisco, Calif. – Propark Mobility announced today that the company has acquired California Parking, a family-run business located in San Francisco, Calif. “For nearly 70 years, the Puccinelli family has led California Parking to great success and established the company as a premier parking provider in the Bay Area,” said Propark CEO David Schmid. “It’s clear that family is at the heart of their business, and that’s something that resonated deeply with us at Propark. With this transition, Propark’s… Continue reading →

Originally published in Parking Today on Dec. 1, 2022. Over the nearly four decades since founding one of the nation’s largest privately owned parking and mobility companies – spanning more than 750 locations and 4,000 employees – I’ve learned valuable lessons about the keys to effective leadership. At its core, I believe successful leadership stems from the ability to attract and support a team that shares your vision. Great leaders instill in their teams values and confidence, and then empower… Continue reading →

Originally published by L.A. Business First on 10/5/2022 Hartford, Connecticut, parking management company Propark Mobility has acquired Los Angeles-based Imperial Parking Industries, expanding its L.A. area portfolio by 75%. With the acquisition, Propark is adding more than 50 employees and bringing its total assets under management to more than $2 billion. Terms of the deal, which closed August 31, were not disclosed. Propark CIO David Schmid told L.A. Business First the acquisition was a win-win for both companies. “We believe… Continue reading →

Los Angeles, Calif. – Propark Mobility announced today that the company has purchased Los Angeles-based Imperial Parking Industries, Inc. (IPI), expanding its area portfolio by 75 percent. “As a leader in the Los Angeles area, Imperial Parking offers a regional expertise that, when combined with Propark’s national network and back-end systems, will propel both companies forward,” said David Schmid, Propark’s Chief Investment Officer. “Building these meaningful, beneficial connections is a core component of Propark’s mission, and we felt it was… Continue reading →

Originally published by International Business Times on 6/22/22   Amid an apparent cat-and-mouse game between red-hot inflation and leaping interest rates, concerns about maintaining a healthy bottom line are on the minds of many business leaders. A consequence of facing uncertainty, some key corporate endeavors are sometimes shelved for less turbulent times. But if your business is on the verge of a significant acquisition or buyout that cannot or should not be delayed for circumstance, there are fundamental lessons to… Continue reading →

Boston, Massachusetts – Propark Mobility announced today that the company has purchased Boston-based Pilgrim Parking, significantly enhancing its footprint in the region. “Pilgrim Parking is a celebrated and well-known Boston institution,” said David Schmid, Propark’s Chief Investment Officer. “The acquisition of this longstanding brand is a dramatic statement of growth for Propark in this marketplace, which is one that we have wanted to expand in for many years.” For 57 years, Pilgrim Parking has been providing services to a variety… Continue reading →