Towne Park, a leading tech-enabled, multi-service parking and hospitality solutions provider, announced the acquisition of a majority stake in Unified Parking Partners (UPP), a full-service parking management company based in Portland, ME. Daniel McNutt, UPP’s Founder and CEO, will continue to lead the company. Financial terms of the transaction were not disclosed.
Founded in 2012, UPP excels in commercial parking management, focusing on optimizing commercial parking assets. UPP operates over 280 locations with more than 500 employees, primarily along the Eastern Seaboard, with a strong presence in New England and Florida. UPP’s innovative strategies for market penetration and revenue optimization have fueled its rapid growth.
This strategic acquisition expands Towne Park’s commercial parking portfolio, complementing its recent acquisition of over 100 commercial parking facilities nationwide. It enhances Towne Park’s presence in desirable markets, bolstering its industry-leading position. Towne Park will provide UPP with additional resources to scale its business model and revenue management solutions. By leveraging their combined strengths and markets, Towne Park and UPP aim to deliver exceptional service and asset value for clients.
“We are thrilled to partner with Dan and the talented team at UPP as we continue to grow our commercial parking portfolio and expand our revenue optimization capabilities,” said Andrew Kerin, CEO of Towne Park. “Dan has built an innovative, scalable parking management model that offers significant growth opportunities in high-growth markets. Their reputation for delivering top-tier parking management and revenue optimization aligns with our mission to drive client value and exceptional customer experiences. This partnership enhances our portfolio and market penetration while reinforcing our commitment to growth and innovation. We are excited to work with Dan and the UPP team to scale the business and leverage our complementary skills and assets.”
“Joining forces with Towne Park is a milestone for UPP, and I’m excited to collaborate with Andrew and the team,” said Daniel McNutt, CEO & Founder of Unified Parking Partners. “We’ve long admired Towne Park’s unparalleled reputation in the industry. The company’s size, talent, and infrastructure will support our growth and help us capitalize on future opportunities. Our shared values and commitment to excellence will allow us to leverage Towne Park’s national presence while maintaining the personalized touch our clients expect.”
