Hartford-based Propark Mobility, a national parking management company, announced that it purchased Imperial Parking Industries Inc., a Los Angeles company with more than 34 parking locations at office buildings, hospitals, hotels and event venues.
The acquisition expands Propark’s Los Angeles portfolio by 75%, adding more than 50 employees, and bringing its total assets under management to greater than $2 billion, the company said.Â
Propark said its investment in one of the most car-focused cities makes sense from a strategic standpoint as it seeks a bigger foothold in the electric vehicle market.
Founded in 1984, Propark Mobility owns parking locations across the country, including at the Four Seasons in Boston and Google’s campus in California.
