Propark Mobility Grows Boston Asset Management Portfolio by Acquiring Pilgrim Parking
Boston, Massachusetts – Propark Mobility announced today that the company has purchased Boston-based Pilgrim Parking, significantly enhancing its footprint in the region.
“Pilgrim Parking is a celebrated and well-known Boston institution,” said Richard DiPietro, Propark’s President. “The acquisition of this longstanding brand is a dramatic statement of growth for Propark in this marketplace, which is one that we have wanted to expand in for many years.”
For 57 years, Pilgrim Parking has been providing services to a variety of businesses in the Greater Boston area. The company currently has over 30 locations, with 250 employees and a fully-staffed administrative office in the City of Boston. As part of the acquisition, 100 percent of employees from Pilgrim’s locations are being retained, along with the company’s branding and existing service ideals.
“Pilgrim Parking has time-honored relationships that we intend on maintaining and growing by carrying out the same exceptional service that our clients have enjoyed for years and, in some cases, decades,” said Mark Braconnier, Pilgrim Parking’s President. “Pilgrim is now powered by Propark’s extensive back-office capabilities and proprietary technology platform, allowing us to provide enhanced value and optimized results for these important partnerships, which is more important than ever in 2022.”
This acquisition comes on the heels of Propark Mobility’s purchase of Houston-based Sovereign Services in January. The addition of Pilgrim Parking marks a 130% growth in market presence for Propark in the City of Boston, resulting in a total portfolio exceeding 50 separate operations in the city.
“Propark is in the midst of exciting growth,” said David Schmid, Propark Chief Investment Officer. “Through the acquisition of Pilgrim Parking, we’re continuing to expand our nationwide portfolio. This is a major focus for us this year, as we’re actively seeking new partnerships and acquisition opportunities with parking companies.”
About Propark Mobility
Propark Mobility is one of the country’s largest privately-owned parking companies, providing full-service parking and mobility services at more than 600 hospitality, healthcare, commercial and off-airport locations, in over 100 cities across the United States. For more information, please visit www.propark.com.