Harris Williams & Co. Advises Towne Park on the Sale of a Majority Interest to TA Associates

January 7, 2014

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of a majority interest of Towne Park, the nation’s premier provider of valet parking, parking management and hospitality services, to TA Associates.  Harris Williams & Co. acted as the exclusive advisor to Towne Park, a portfolio company of Camden Partners and HarbourVest Partners, LLC (HarbourVest).  The transaction was led by Bob Baltimore, Derek Lewis, Dave Kennedy, Marshall Croft and Trey Packard from the firm’s Richmond office.

“Towne Park has built a remarkable platform in the hospitality and healthcare industry,” said Bob Baltimore, a managing director and co-head of Harris Williams & Co.’s Business Services Group.  “The company has done an exceptional job executing its strategic plan and is poised to capitalize on its new partnership with TA Associates.”

“By offering premium quality services in a scalable model, Towne Park has built a national platform that is truly unmatched in the industry,” added Derek Lewis, a managing director and co-head of Harris Williams & Co.’s Business Services Group.

Founded in 1988 and headquartered in Annapolis, MD, Towne Park is the nation’s premier provider of valet parking, parking management and hospitality services.  With more than 7,500 employees, Towne Park’s national platform serves more than 500 venues, primarily consisting of marquee four and five-star hotels and hospitals.  The company’s scalable platform is distinguished by a distinctive service culture, unmatched talent management system and robust analytical capabilities.

Camden Partners, headquartered in Baltimore, MD, is a private equity firm that provides growth capital to lower-middle market companies in the education, healthcare and business services sectors.  Since its founding in 1995, the firm has raised four funds that have deployed growth capital to more than 60 companies, generating nine IPOs and 16 sales to strategic and financial buyers.

HarbourVest is an independent global alternative investment firm and an SEC-registered investment adviser.  The firm provides investment programs for institutional investors to invest in venture capital, buyout, mezzanine debt and distressed debt through primary partnerships, secondary purchases and direct investments.  The firm and its subsidiaries have more than 250 employees, including nearly 80 investment professionals deployed in Boston, London, Hong Kong, Tokyo, Bogotá and Beijing.  In more than 30 years of investing in private equity, the firm has committed more than $25 billion to newly-formed funds, completed more than $9 billion in secondary purchases and invested $4 billion directly in operating companies.  The firm’s clients consist of more than 300 active institutional investors, including pension funds, endowments, foundations and financial institutions throughout the U.S., Canada, Europe, Australia, Latin America and Japan.  

Founded in 1968, TA Associates is one of the largest and most experienced global middle market growth private equity firms.  The firm has invested in more than 430 companies around the world and has raised $18 billion in capital.  With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries.

Harris Williams & Co.’s Business Services Group has experience across a variety of sectors, including business process outsourcing; legal and insurance services; marketing and information services; professional services; payment processing and financial services; education and training; facilities services; route-based services; and environmental services.  For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group website.