SP Plus Corporation is an American provider of parking facility management services. It manages parking facilities with more than one million parking spaces across the United States and Canada. Until December 2013, it was known as Standard Parking Corporation.
The company employs more than 26,000 people to manage 4,200 parking facility locations, as well as parking and shuttle bus operations at 75 airports.
[ Standard Parking Corporation Completes Merger With Central Parking Corporation](_blank)
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Company history
Standard Parking began in 1929 in Chicago
(''City in a Garden''); I Will
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, Illinois, where it was operated by David and Benjamin Warshauer 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. March 1998, Standard Parking merged with APCOA, Inc., forming APCOA/Standard Parking, Inc.
In April 2003, APCOA/Standard Parking, Inc. changed its corporate name to Standard Parking Corporation.initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
, listing on the Nasdaq under the symbol STAN, and raising $54 million in gross proceeds from the offering.
In July 2009, Standard Parking acquired the assets of Gameday Management Group, which plans the operation of transportation and parking systems, primarily for major stadium and sporting events and whose Click and Park service offers traffic demand management and pre-paid parking services.
Brand identity change
In December 2013, the company rebranded to SP Plus Corporation and changed its NASDAQ ticker symbol to SP.
SP Plus Corporation (Nasdaq:SP) is a provider of parking, baggage handling, ground transportation, facility maintenance, event logistics, and security services.
See also
*APCOA Parking
APCOA Parking AG is Europe's longest-established full service parking management company.
References
COMPANY NEWS; APCOA AND STANDARD PARKING PLAN MERGER
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...
, 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.
Cost of downtown parking 'skyrocketing'
Chicago Sun Times
The ''Chicago Sun-Times'' is a daily newspaper published in Chicago, Illinois, United States. Since 2022, it is the flagship paper of Chicago Public Media, and has the second largest circulation among Chicago newspapers, after the ''Chicago T ...
, 2008.
Parking Heaven
, Time Magazine
''Time'' (stylized in all caps) is an American news magazine based in New York City. For nearly a century, it was published weekly, but starting in March 2020 it transitioned to every other week. It was first published in New York City on Ma ...
, 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
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Private equity portfolio companies
Parking companies
Companies based in Chicago