Central Parking Finance Trust PFD TR CV SECS
CRLKP
Other OTC- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Consumer Cyclical
- Industry
- Personal Products & Services
- Address
- Nashville DE United States of America
- IPO Date
- May 18, 2004
- CIK
- 0001062218
- Similar Companies
- Business
- Central Parking Finance Trust PFD TR CV SECS (CRLKP) is a special purpose finance trust that issued 5.25% convertible trust preferred securities with a liquidation preference of $25 per share, redeemable on or after January 4, 2028, linked to the operations of Central Parking Corporation, a provider of outsourced parking management services. The trust's core activities center on holding convertible preferred securities backed by Central Parking's business, which operates more than 3,500 parking facilities across 40 U.S. states, Canada, Puerto Rico, Mexico, and Europe; offers parking consulting, shuttle and valet services, parking meter enforcement, and billing and collection services; and manages high-profile locations such as Madison Square Garden in New York City and Heathrow Airport in London. Central Parking, founded in 1965 by Monroe J. Carell Jr. and headquartered in Nashville, Tennessee, owns some facilities outright and leases others, serving municipal, commercial, and institutional clients in the consumer cyclical sector's personal services industry. In recent years, Central Parking underwent a transformative merger in October 2012 with Standard Parking Corporation (now SP Plus Corporation), which doubled the combined entity's portfolio to over 4,200 locations and more than 2.2 million parking spaces across the U.S. and Canada, with Central Parking becoming a wholly-owned subsidiary. SP Plus, the parent entity, announced in November 2023 its agreement to be acquired by Metropolis Technologies, Inc., positioning the combined operations as a leading technology-enabled parking network with expanded investments in growth and client revenue enhancement. No further major partnerships, funding rounds, acquisitions, or product launches specific to the trust or Central Parking have been reported in the last 1-2 years, with the CRLKP securities trading over-the-counter amid stagnant dividend yields and low trading volume. The trust maintains its focus on financing related to parking operations without noted reorganizations or strategic shifts since the SP Plus integration.