What exactly happened on December 2, 2013?
We changed the Company’s name from Standard Parking Corporation of Canada, Ltd. to SP Plus Corporation Canada.
Why did you change the Company’s name?
Because we have grown into more than just a parking company. Certainly we’re still one of the largest providers of parking management services in Canada through our Standard Parking of Canada brand, but we also provide ground transportation, facility maintenance, security and event logistics services as well. Given the expanding breadth of our service lines, it became important for us to have a name that doesn’t give the impression we’re just a parking company.
I notice you’re still operating many of your garages under your Standard Parking of Canada brand. Why?
We didn’t want to cause confusion by making an immediate switch to an unfamiliar brand because our clients and consumers had known us for years as Standard Parking of Canada. We now have started the process of converting our garage operations to our new SP+ Parking brand. The conversion will take place gradually but we expect it to be substantially completed by the end of 2015.