LAZ Parking (LAZ), one of the largest nationwide contract parking operators in the United States with over 3,200 managed locations, announced the formation of a new, long-term partnership with Argo Infrastructure Partners (Argo).
Argo is a leading infrastructure investor based in New York with a long-term investment horizon, targeting higher quality infrastructure assets and businesses. This new partnership will strengthen LAZ’s existing capabilities, contribute and sustain its strong relationships with employees and customers, and support further investment in EV charging infrastructure assets across the U.S.
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“We are honored to partner with the Argo team,” said Alan Lazowski, CEO and co-founder of LAZ Parking. “As our first choice among best-in-class infrastructure partners, we sought a long-term investor who understood the value of our national network and our people-first culture. Argo and LAZ are aligned on our shared vision of parking as essential infrastructure, including EV charging, micro warehousing logistics and future mobility services.”
“We are excited to partner with Alan and his experienced leadership team in supporting LAZ’s high quality infrastructure business and expanding its EV charging infrastructure network,” stated Andrew Zaroulis, Senior Director at Argo Infrastructure Partners.
Concurrent with Argo’s investment, LAZ’s previous shareholders – Indigo Group S.A. through its indirect fully-owned subsidiary Indigo Infra USA Holdings Inc., Harvest Partners and Sculptor Capital Management – are exiting their investments, marking the end of a supportive and successful journey.
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“We are humbled by the tremendous value and lifelong friendships we have created as partners,” Lazowski said.
Now capitalized with a long-term preferred investment from Argo, LAZ will continue to build on its 40-year track record of providing essential services to customers across the United States, with new services planned such as a nationwide network of electric vehicle (EV) charging facilities.
Morgan Stanley & Co. LLC is acting as financial advisor and Goulston & Storrs PC is acting as legal counsel to LAZ in connection with the transaction. White & Case LLP is acting as legal counsel to Argo.
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