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Towne Park Expands Commercial Parking Business Portfolio 

Acquisition of 100+ Commercial Parking Operations Supports Growth Strategy and Significantly Enhances Towne Park’s Presence in the Nashville Market

PHILADELPHIA, PA – May 16, 2024 – Towne Park (or the “Company”), a leading tech-enabled, multi-service parking and hospitality solutions provider, today announced the acquisition of 100+ commercial parking locations nationwide. This acquisition significantly enhances its commercial parking operations, while also expanding its footprint and market leadership in the attractive Nashville, TN market. Financial terms of the transaction were not disclosed.

Founded in 1988, Towne Park leverages its industry-leading technology and human capital platform to provide exceptional client and customer experiences, all while driving enhanced profitability for clients through revenue-generating solutions. With these additional commercial parking facilities, Towne Park aims to address the growing demand for safe, efficient and convenient parking solutions while upholding its commitment to delivering exceptional customer experiences and profitable parking services for its clients.

This acquisition, which supports Towne Park’s growth strategy, includes 100+ locations nationwide, and brings an additional 25,000+ parking spaces to the Towne Park portfolio with a significant concentration in Nashville, as well as a presence in the Houston, Knoxville, Los Angeles and Washington, D.C. markets, among others.

“The addition of these new facilities demonstrates our commitment to pursuing strategic acquisitions that allow us to build on our national presence and broaden our service offering, while simultaneously complementing our industry-leading, data-centric platform for innovative parking solutions,” said Andrew Kerin, CEO of Towne Park. “By expanding our commercial parking business, we are strengthening the ability to meet the various parking needs of our clients and customers and increasing our presence in the important Nashville market. We are excited to welcome new employees to Towne Park and are committed to providing a seamless transition and the same experience our clients and customers have come to expect.”

Grant Thornton acted as financial advisor and Kirkland & Ellis acted as legal advisor to Towne Park.

About Towne Park

Towne Park is the leading tech-enabled, multi-service parking and hospitality solutions provider serving premier hotels, healthcare institutions, residential properties and commercial parking facilities nationwide. Supported by more than 11,000 team members, Towne Park is the only company with a comprehensive suite of parking, mobility and hospitality solutions focused on delivering exceptional experiences from arrival through departure. For 35 years, Towne Park has been committed to providing the best team, the best service and the best solutions that drive revenue and enhance our clients’ brands creating smiles with the millions of guests, patients and visitors we proudly serve. For more information, visit www.townepark.com. 

Media Contacts 
Drew Brown / Julie Rudnick
FGS Global
TownePark@fgsglobal.com

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