1st Class Express Airport Parking
This off-site airport parking operation, at the Indianapolis Airport, had overleveraged itself building the facilities.
Developed just two years prior, the lot was losing money with very few assets relative to its debt. Additionally, the land, well-suited for the old airport, was leased from the Indianapolis Airport Authority beyond the upcoming opening of a new terminal. This meant the lease had a commitment of 7 years beyond the useful life of the lot.
The company retained Equity Partners HG to run an global marketing campaign to generate interest in the company. Within six weeks of our retention, over 80 interested parties were performing diligence on the company.
After receiving two offers for the company, Equity Partners was able to negotiate a 65% increase in price from the original offer from a competing firm.