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Standard Parking

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Standard Parking

Standard Parking Corporation
Public company
Industry Parking
Predecessor(s) Airport Parking Company of America (APCOA), Standard Parking Companies
Founded 1929 (Standard), 1947 (APCOA)
Headquarters Chicago, Illinois, United States
Employees 26,000
Website www.standardparking.com

Standard Parking Corporation (STAN) is a leading national provider of parking facility management services, providing on-site services at multi-level and surface parking facilities for all major markets of the parking industry. The Company manages parking facilities containing more than one million parking spaces in hundreds of cities across the United States and Canada.

The Company’s diversified client base includes some of the nation’s largest private and public owners, managers and developers of major office buildings, residential properties, commercial properties, shopping centers and other retail properties, sports and special event complexes, hotels, and hospitals and medical centers. In the airport market, the Company manages parking, shuttle bus and ground transportation operations serving airports throughout the United States and Canada.

Standard Parking employs a professional staff of over 26,000 people who manage 4,200 parking facility locations. The company also runs parking and shuttlebus operations that serve 75 airports.[1]

Company History

Standard Parking traces its business roots back to 1929 in Chicago, where it was operated as a family owned and controlled business. The business operated under the corporate name of Standard Parking Corporation from 1981 until 1995, at which time it was reconstituted as a limited partnership named Standard Parking, L.P.

In March 1998, Standard Parking merged with APCOA, Inc. (Link) and the resulting company was called APCOA/Standard Parking, Inc.

In between 1998 and 2000, APCOA/Standard Parking, Inc. made a number of acquisitions including:

  • Universal Park Holdings, Inc., operating under the names U-Park and Select Valet Parking
  • Various contracts of System Parking Inc.
  • Assets of Pacific Rim Parking
  • Virginia parking Services, which operated under the name VAPARK
  • Century Parking, Inc. and Sentry Parking Corporation
  • Executive Parking Industries LLC
  • Assets of Huger Parking Company, LLC, which operated under the name Dixie Parking

In April 2003, APCOA/Standard Parking, Inc. changed its corporate name to Standard Parking Corporation.[1]

In June 2004, Standard Parking completed its initial public offering, listing on the Nasdaq under the symbol STAN. A total of $54 million in gross proceeds was raised from this offering.

Standard Parking acquired the assets of Gameday Management Group (Link) in July 2009. Gameday Management plans the operation of transportation and parking systems, primarily for major stadium and sporting events. Gameday has provided its transportation and traffic management services for high-profile events including: Super Bowls XXX-XLIV, the Daytona 500, the 2009 Presidential Inauguration and the Winter Olympic Games in Vancouver. A service within Gameday, called Click and Park, offers traffic demand management and pre-paid parking services for locations across the nation.[1]

In October 2012, Standard Parking completed the acquisition Central Parking,[2] effectively doubling the size of the company.

Company Structure

Standard Parking Corporation’s primary focus remains on parking management, with Standard Parking as its primary service line. The Company’s newly launched SP Plus service lines highlight the Company’s value-added transportation, maintenance and security service lines that complement its core parking operations. The Company also uses the SP Plus brand to emphasize the extensive subject matter expertise that the Company has developed to meet the varied demands of its assorted end-markets. Standard Parking’s corporate headquarters are located in Chicago, but the company has a geographic footprint that includes operations in 41 states and four Canadian provinces. Offices in major cities include: Atlanta, Boston, Cleveland, Columbus, Denver, Honolulu, Houston, New Orleans, New York, San Jose, Seattle, Toronto and Washington D.C.[1]

Board of Directors:

  • Robert S. Roath, Non-Executive Chairman of the Board of Directors
  • Charles L. Biggs, Director
  • Karen M. Garrison, Director
  • Michael J. Roberts, Director
  • James A. Wilhelm, President, CEO and Director

Executive Officers:

  • James A. Wilhelm, President, Chief Executive Officer, Director
  • G. Marc Baumann, Executive Vice President, Chief Financial Officer, Treasurer
  • Thomas L. Hagerman, Executive Vice President, Chief Operating Officer
  • Gerard M. Klaisle, Executive Vice President, Chief Human Resource Officer
  • John Ricchiuto, Executive Vice President of Operations
  • Robert N. Sacks, Executive Vice President of Operations
  • Edward E. Simmons, Executive Vice President of Operations
  • Steven A. Warshauer, Executive Vice President of Operations
  • Michael K. Wolf, Executive Vice President, Chief Administrative Officer, Associate General Counsel

See also

References

  • New York Times, 1998.
  • 10 Floors for Parking Planned On Top of a Chicago Church, New York Times, 1990.
  • IPO Watch: The cost of going public. Red Herring, 2004.
  • Standard Parking to merge with Apcoa.
  • Funding Universe Company History: Holberg Industries, Inc.
  • Chicago Sun Times, 2008.
  • Time Magazine, 2002
  • Sweet spot won't last; Standard Parking's shares are on a tear, but stock's ascent may begin to idle, 2006
  • Standard Parking 2009 Annual Report, 2010

External links

  • Standard Parking (Company website)
  • SP Plus
  • SP Plus Security Services
  • GameDay Management Group
  • Click and Park
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