LAZ PARKING ACQUIRES MAJORITY STAKE IN INDIGO PARK CANADA

Builds North America's Largest Tech-Driven Parking, Transportation, and Mobility Company

HARTFORD, Conn., July 1, 2025 /PRNewswire/ -- LAZ Parking announced today the completion of an acquisition that gives it a 60% majority stake in INDIGO Park Canada Inc. (IPC), creating North America's largest tech-driven parking, transportation, and mobility company.

The acquisition reunites LAZ with the INDIGO Group, building on their successful partnership from 2007 to 2021. Since 2021, the companies have collaborated on cutting-edge technology platforms, notably business intelligence tools, e-commerce, and computer vision AI tools, which are among the most advanced in North America. This new chapter formalizes the ongoing synergy, enabling both companies to achieve more together for our people, clients, and customers.

"This tremendous acquisition furthers the LAZ mission of creating opportunities for our employees and value for our clients," said Alan Lazowski, Chairman and CEO of LAZ Parking. "We're creating unparalleled value for customers and partners across North America. With this acquisition, LAZ becomes the largest parking tech-driven, transportation and mobility operator in North America, managing more than 5,300 locations and employing over 20,000 people in more than 2 million parking spaces. This partnership marks the beginning of an exciting new chapter while maintaining the culture that has made Indigo Park Canada a trusted name for the past 50 years. Under the leadership of CEO John Laires and his experienced team, IPC will preserve its identity, passion for service, and commitment to customers and employees."

"This is a major strategic milestone for LAZ, and the management team that has grown the business to become North America's largest parking operator. We are pleased to have supported LAZ in securing this position" said Jason Zibarras, Founder and Managing Partner at Argo Infrastructure Partners, whose managed funds are investors in LAZ Parking.

About LAZ Parking

LAZ Parking is the largest and fastest-growing privately owned parking operator in the United States and a pioneer in digital parking technology. Founded in Hartford, CT, by Alan Lazowski, Jeffrey Karp, Michael Harth, and Michael Kuziak, LAZ has been providing top-tier parking management and transportation services since 1981. The company operates over 2 million parking spaces across more than 5,300 locations in 44 states and 639 cities throughout the U.S. and Canada. LAZ is a leader in business intelligence, remote monitoring, eCommerce solutions, and Proximity On-Demand Services, or "LAZ PODS." LAZ leverages its international network of parking facilities to deliver innovative, tech-driven solutions, including EV charging, micro warehousing, and last-mile logistics, serving industries such as hospitality, commercial, healthcare, airports, transportation, universities, government, retail, events, residential, and shuttle services. LAZ is a people-first, conscious capitalist company committed to elevating humanity through business. For more information, please visit www.lazparking.com.

About Argo Infrastructure Partners

Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, transportation assets and other long-duration infrastructure assets. Argo's investment philosophy couples sound investment return with responsible and sustainable investing. As of June 2025, Argo manages over $6.4 billion in assets on behalf of its investor partners. For more information, visit www.argoip.com.

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