SP Plus Corporation Assumes Parking Operations at the University of Toledo

CHICAGO, Oct. 11, 2021 (GLOBE NEWSWIRE) -- SP Plus Corporation (SP+), (Nasdaq: SP), a leading provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients throughout North America, assumes the role of parking operator for the University of Toledo.

At the University of Toledo, ParkUToledo was formed through a public-private partnership to align with efforts to modernize the campus’ parking operations and assets. SP+ was selected by the University of Toledo through a competitive process and is responsible for the day-to-day parking management, customer service and maintenance of the campus parking facilities, which includes 66 surface parking lots with more than 10,000 spaces.

SP+ also developed and now manages the parkutoledo.com website which serves as the portal for students, faculty, staff and visitors to secure parking passes and receive information.

“We’re excited to begin the ParkUToledo partnership and to be implementing SP+’s operational expertise and technology-driven solutions at the University of Toledo,” commented Mike Dennis, Associate VP for Finance at the institution.

“It was important for us to create a seamless parking experience during the transition as students and staff started returning to campus. We are especially excited to welcome the University of Toledo parking staff and students who now work as ParkUToledo employees.” said Tom Hagerman, Senior Vice President, Commercial Operations for SP+.

Diogenes Capital, a developer and manager of public private partnerships, including parking system monetization concessions, partnered with SP+ in this transaction.

“SP+ was clearly the right partner for us and for ParkUToledo. Their leadership in operations, service, technology and overall campus mobility is a significant differentiator,” stated David Teed, the Managing Partner at Diogenes Capital who successfully led the first university parking concession in the United States at the Ohio State University, has participated in virtually all parking concession-related transactions in the United States over the last ten years, and has advised a number of universities and other demand generators in connection with potential concession transactions.

SP+ facilitates the efficient movement of people, vehicles and personal belongings with the goal of enhancing the consumer experience while improving bottom line results for their clients. The Company provides professional parking management, ground transportation, remote baggage check-in and handling, facility maintenance, security, event logistics, and other technology-driven mobility solutions to aviation, commercial, hospitality, healthcare and government clients across North America. For more information, visit www.spplus.com.