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Press Release IMPERIAL PARKING ACQUIRES LONDON, ONTARIO DIVISION OF CANADA WIDE PARKING, INC. VANCOUVER, B.C., Canada - August 09, 2005 - Imperial Parking Corporation (Impark), one of North America's leading parking operators, announced today that it has acquired the London, Ontario division of Canada Wide Parking, Inc. and its subsidiary, Central System Auto Parks Ltd. The acquisition, comprised of lease and management accounts, has increased Impark's London portfolio to forty-six locations, and establishes Impark as the leading private company parking provider in London, serving downtown commercial and retail patrons in addition to its existing client and customer base. "We are excited to introduce the London-based clients, customers and employees of Canada Wide and Central System Auto Park to Imperial Parking in the coming weeks," stated Herb Anderson Vice Chairman and CEO. "This acquisition is part of the company's long term growth strategy to integrate within Impark's portfolio, successful parking operators in select Canadian and US markets." Imperial Parking Corporation, headquartered in Vancouver, B.C., Canada, is the third largest parking management company in North America with more than 3,700 employees and 1,750 locations. Impark was acquired in May of 2004 by an investment partnership comprised of The Gates Group, LLC, a Cleveland-based private equity firm that makes investments in the North American parking industry, Prudential Capital Partners, LP a leading provider of private capital based in Chicago and CapitalWorks, LLC a merchant banking firm also based in Cleveland. Contact: COLLEEN M. NIESE |
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