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Towne Park Acquires Majority Stake in Unified Parking Partners

Aug 05, 2024•over 1 year ago

Acquiring Company

Towne Park

Acquired Company

Unified Parking Partners

Plymouth MeetingPortlandHotelHospitalityOther

Description

Towne Park, a leading tech-enabled parking and hospitality solutions provider, has acquired a majority stake in Unified Parking Partners (UPP), a full-service parking management company headquartered in Portland, ME. Daniel McNutt, UPP Founder and CEO, will continue to lead UPP. This strategic acquisition expands Towne Park’s commercial parking portfolio, strengthens its industry position, and enhances its ability to deliver exceptional service and asset value creation for its clients.

Company Information

Company

Towne Park

Location

Plymouth Meeting, Pennsylvania, United States

About

Towne Park is the leading tech-enabled, arrival through departure solutions provider serving premier hotels, healthcare institutions, residential properties, and commercial parking facilities nationwide. Supported by more than 13,000 team members, Towne Park is the only company with a comprehensive range 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’ brand, creating smiles with the millions of guests, patients, and visitors we proudly serve.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed