INDIGO, via its holding Infra Park and subsidiary LAZ Parking, announces the acquisition of Valet Parking Service (VPS), one of Los Angeles most recognized parking operator and the acquisition of a local-based parking operator Alpha Park, whose operations will be combined will LAZ Parking’s operations in Denver.
With now more than 60 locations including high-profile venues like the Oscars or the five-star Peninsula Beverly Hills hotel and 425 employees, VPS was first established in 1946 and since has ever led Los Angeles parking market when it comes to integrity, innovation and quality of service. As an organization who puts its people and its client first, this acquisition is a perfect fit for LAZ and Indigo group.
In Denver, the acquisition of Alpha Park will add 49 new parking garages and surface lots to LAZ Parking portfolio, making it one of the largest parking operators in Denver with 80 locations and over 125 employees. Alpha Park was started in 2009 by Dan Bragassa, a parking professional with decades of experience in the Denver parking market.
Serge Clémente, President of Indigo: “These two transactions allow us to follow our strategy that consists in densifying our existing market positions in the United States through targeted tuck-in acquisitions to sustain and consolidate long-term growth and profitability. These acquisitions will also bring expertise and new talents within our organisations. With more than 880,000 spaces managed over more than 328 cities we reinforce our position as one of the leaders of the US dynamic market.”