February 22, 2007
Central Parking Corporation announces agreement and plan of merger with KCPC Holdings, Inc., a company formed by affiliates of Kohlberg & Company, LLC, Lubert-Adler, L.P., and Chrysalis Capital Partners, L.P.
On February 21, Central Parking Corporation announced that it has entered into a $725.5 million agreement and plan of merger with KCPC Holdings, Inc., a company formed by affiliates of Kohlberg & Company, LLC, Lubert-Adler, L.P., and Chrysalis Capital Partners, L.P. Willkie advised The Blackstone Group L.P., which assisted Central Parking in evaluating strategic alternatives, including the sale. Under the terms of the merger agreement, Central Parking's shareholders will receive $22.53 per share in cash. Based in Nashville, TN, Central Parking operates more than 3,100 parking facilities containing approximately 1.5 million spaces at locations in 37 states, the District of Columbia, Canada, Puerto Rico, Chile, Colombia, Peru, the United Kingdom, the Republic of Ireland, Spain, Greece, Italy and Switzerland. Blackstone Group was represented by partner David Boston and associate Robert Langdon.
