SP Plus Corporation
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.
|Standard Parking Corporation|
|Traded as||NASDAQ: SP|
Russell 2000 Component
|Founded||1929 (Standard), 1947 (APCOA)|
Chicago, Illinois, United States
Number of employees
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 began in 1929 in Chicago, Illinois, 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. 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. In June 2004, Standard Parking completed its initial public offering, 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. In October 2012, Standard Parking completed the acquisition of Central Parking, effectively doubling the size of the company.
Brand identity changeEdit
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, ground transportation, facility maintenance, event logistics, and security services.
- COMPANY NEWS; APCOA AND STANDARD PARKING PLAN MERGER, 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.
- Cost of downtown parking 'skyrocketing'. Chicago Sun Times, 2008.
- Parking Heaven, Time Magazine, 2002
- Sweet spot won't last; Standard Parking's shares are on a tear, but stock's ascent may begin to idle[dead link], 2006
- Standard Parking 2009 Annual Report, 2010
- SP Plus (Company website)