Business

TA Associates acquires majority interest in provider of outsourced parking services

TA Associates, a global private equity firm with offices in Boston, said Tuesday that it has completed a majority investment in Towne Park, a Maryland-based company that provides parking, concierge, shuttle, and other services to hotels and health care providers.

Michael S. Berk. Photo taken from TA’s website.

Financial terms were not disclosed.

TA’s Michael S. Berk, William D. Christ, and Jeffrey A. Del Papa will join Towne Park’s board of directors, the firm said in a press release.

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Towne Park clients include Four Seasons Hotels & Resorts, Hilton Worldwide, and Hyatt Corp. as well as Banner Health, St. Luke’s Health System, and Tenet Healthcare Corp.

In a statement, Berk said, “Towne Park is a true entrepreneurial success story, growing into the recognized leader in institutional outsourced parking.”

Goodwin Procter LLP, a law firm with offices in Boston, provided legal counsel to TA Associates.

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