Hartford-based LAZ Parking announced Thursday it has acquired a Seattle-based parking management company, giving it a significant presence in the Emerald City.
LAZ Parking said it has purchased the assets of IPM, adding 14,000 parking spaces to its portfolio.
The combined companies will employ 74 employees locally.
“This acquisition is a melding of like-minded companies committed to providing opportunities for their employees and serving the parking needs of their clients and the parking public,” said Alan Lazowski, chairman, CEO and founder of LAZ Parking.
IPM was founded in 1985 as Premier Parking by Joan and Steve Sundberg as an off-airport parking company. The company was purchased in 2006 by husband-and-wife team, Mark and Tracy Sundberg.
The company has 74 employees and $40 million in managed revenues, according to LAZ. Two senior leaders at IPM will join the LAZ leadership team: Scott Reisnouer and Scott Bly.
