A team of Goodwin Procter attorneys advised the private equity firm TA Associates in its recent majority investment in Towne Park, a provider of parking management and hospitality services for the hotel and healthcare industries.
As part of the transaction, Towne Park management maintained a significant stake in the company. In addition, existing investor Camden Partners sold its stake in Towne Park, and HarbourVest Partners, also a current shareholder, re-invested in the company. Other terms of the investment were not disclosed.
Founded in 1988, Towne Park provides hotels, healthcare facilities and other institutions with parking and other outsourced staffing solutions including valet parking, self-parking, door service, bell service, patient transportation, employee support, concierge and shuttle transport.
With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates is a leading global growth private equity firms with investments in more than 430 companies around the world and has raised $18 billion in capital.
For more information, read TA Associates’ full press release.