Press Release

Chicago, Illinois, November 30, 2018 – SP Plus Corporation (NASDAQ: SP) (“SP+”, “SP Plus” or “the Company”), a leading national provider of parking, ground transportation, and related services to commercial, institutional and municipal clients throughout North America, today announced that it has completed its previously announced acquisition of Baggage Airline Guest Services, Inc. and Home Serv Delivery, LLC, their subsidiaries and affiliates (collectively, “Bags”), for an all cash purchase price of $275 million.

Bags combines exceptional customer service with innovative technologies to provide remote airline check-in, baggage handling and related services. Based in Orlando, FL, Bags operates in over 250 cities in North America with approximately 3,000 employees. Its clients include major airlines, airports, sea ports, cruise lines, and leading hotels and resorts. Bags handles more than 5 million checked bags annually. Bags generated approximately $145 million in revenues in 2017.

As previously communicated, the transaction is not expected to materially impact… [+ Click for Full Article]