VANCOUVER, July 14, 2014 /PRNewswire/ – Imperial Parking Corporation
(“Impark”), one of North America’s leading parking operators, today
announced it has completed the acquisition of assets of Pacific Parking
Management, a parking management company based in San Francisco,
California. The terms of the transaction were not disclosed.

The acquisition encompasses parking operations at 49 facilities in the
San Francisco Bay Area, and includes two prominent garages owned by the
San Francisco Municipal Transit Authority (SFMTA); the Civic Center
Garage and Performing Arts Garage. As part of the transaction, Impark
will assume responsibility for the Bay Area Rapid Transit (BART) online
parking reservations system and the event parking management at 34 BART
stations.

Pacific Park Management was founded in 1995 by Behailu Mekbib and Sam
Tadesse, who will continue to be involved through a transition period.
“The team at Pacific Park Management has worked hard to develop strong
relationships with both customers and clients, and I am confident
Impark will continue to deliver excellent service” commented Mr.
Tadesse.

“We are very pleased to have concluded this transaction” said Allan
Copping, Impark’s President & CEO, “The addition of the Pacific Park
Management portfolio accelerates Impark’s solid history of growth in
the Bay Area, and we look forward to continuing to build on the high
benchmark set by PPM for these operations”.

With the acquisition complete, Impark cements its position as one of the
leading operators in the Bay Area, adding the new facilities to its
current portfolio that includes parking at AT&T Park for the San
Francisco Giants, The SFMTA Fifth and Mission and Golden Gateway
Garages, as well as Embarcadero Center, and historic Fort Mason.

Imperial Parking Corporation (Impark), with U.S. headquarters in
Philadelphia, PA and corporate headquarters in Vancouver, B.C., Canada,
is one of the largest parking management companies in North America
with approximately 2,300 locations, and 4,000 employees.

SOURCE Impark