Standard Parking Corp. has grown up with America’s car culture. Founded as a family business in Chicago in 1929, the company provides parking management services in a big way. Having secured U.S. Department of Justice approval in late 2012 for its merger with Nashville, Tenn., rival Central Parking Corp., Standard controls approximately 2.2 million parking spaces at surface and multilevel facilities at airports, hospitals, government buildings, hotels, office centers, arenas and universities. It runs shuttle-bus operations at major airports including Chicago O’Hare and Dallas-Fort Worth. The company went public in 2004 and has been moving beyond traditional urban and suburban parking structure management into mass-transit hubs for rail and coach travel into central cities. Standard reported 2011 revenues of nearly $730 million.
LEGAL TEAM
General counsel Robert Sacks described his nine-attorney, four-paralegal department as almost entirely focused on transactions. “We are a property-management company,” he said. “Depending on the property, a contract might be a five-pager or a 100-pager, because every owner has the way they want their parking function to operate.”
