APCOA Parking
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| Private | |
| Industry | Car parks |
| Founded | 1949 in Cleveland, Ohio USA |
| Founders | Howard Metzenbaum and Ted Bonda |
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Area served
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15 Countries worldwide |
| Website | www |
APCOA Parking AG is Europe's longest-established full service parking management company. It manages over 860,000 parking spaces across 15 countries, and employs approximately 4,500 people. It is headquartered at Stuttgart Airport in Germany.
In 1949, Howard Metzenbaum and Ted Bonda founded APCOA as the Airport Parking Company of America, Inc. in Cleveland, Ohio. In 1966, the company was acquired by the ITT Corporation and was made into a division of ITT. In 1970, APCOA Autoparking GmbH was founded in Stuttgart, under the German wing of ITT, called SEL. The company then expanded across Europe, enteringVienna, capital of Austria, in 1970; Sunbury on Thames, England, in 1981;Mantua, Italy in 1985; and Rotterdam, Netherlands, in 1989. By the mid-1980s, most of the European in-country subsidiaries had been divested from ITT, and slowly over the next ten years the management of APCOA Autoparking GmbH began to re-integrate the group under common ownership. The US operations of APCOA were purchased from ITT Corporation through a management buyout in 1975 and eventually merged with Standard Parking in 1998.
In 1991, venture capital company CWB Capital Partners of London financed a management buyout. The company changed its name to APCOA Holding AG in 1994, and again to APCOA Parking AG in 1995. It trades on the , with 75% of shares held by UK registered investors. In April 1999, Salamander AG of Kornwestheim acquired 27.1% of APCOA Parking AG shares, and took complete control in October of that year. The company continued to expand through acquisition, including the parking subsidiary of UK based FirstGroup. In 2002 EnBW-AG of Karlsruhe purchased 98.7% of Salamander AG, to virtually control APCOA Parking AG. After consolidating various partnerships to 100% ownership, the company continued its expansion into Eastern Europe, entering Rijeka, Croatia in 2003. The company was delisted from the Frankfurt Stock Exchange in 2003.
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