Hartford Business Journal

HARTFORDBUSINESS.COM | OCTOBER 5, 2026 19 LAZ Parking co-founder and CEO Alan Lazowski at the company's Hartford headquarters in the Gold Building. HBJ Photo | Steve Laschever Shifting Gears Amid leadership changes, LAZ Parking eyes doubling in size, expanding into new businesses At airports, it can branch into trans- portation, wheelchair assistance and other services. Lazowski has also long explored new uses for the parking space itself. In 2021, he outlined potential ventures ranging from electric vehicle charging and last-mile logistics to microware- housing and vertiports. Some remain under exploration, while others have developed into operating businesses or helped shape LAZ's acquisitions. Last year, LAZ bought majority stakes in two companies that expanded its reach beyond traditional parking: Fleet- Logix, a San Diego-based fleet-man- agement and managed-labor company, and Freight Ninja, an Illinois-based company specializing in truck, trailer and fleet parking. FleetLogix's services include trans- porting, cleaning and maintaining rental vehicles, primarily at airports. As transportation changes, Lazowski said he sees LAZ garages and lots potentially serving as hubs where autonomous and electric vehicles are stored, charged, cleaned and maintained. LAZ Parking is also working directly with autonomous-vehicle compa- nies, including Waymo and Zoox, Lazowski said. He said he sees electric vehicle charging infrastructure as an amenity that will support LAZ Parking's expan- sion into other transportation services. "That is something we're still investing in, and it hasn't become a significant profit center yet," Lazowski said. "But we're seeing more and more utilization, especially with fleet customers." By Michael Puffer mpuffer@hartfordbusiness.com A little more than a year after LAZ Parking became North America's largest parking operator, the Hartford-based company is setting another ambitious growth target: doubling its size over the next five years. LAZ Parking co-founder and CEO Alan Lazowski said the company has grown to about 23,000 employees, 5,700 locations and roughly $3 billion in managed revenue. By 2031, he said, LAZ could approach 50,000 employees and potentially double its managed revenue. Reaching those targets will involve more than winning additional parking contracts. LAZ is working to become a broader "mobility company," developing technology, partnerships and new services that could turn its garages and lots into autonomous-vehicle hubs, provide landing sites for electric aircraft and delivery drones and support last-mile logistics. The growth push comes as LAZ prepares for a leadership transition. Lazowski will step down as CEO Jan. 1 and become executive chairman, handing day-to-day leadership to long- time executives Tony DiPaolo and John Svendblad, who will serve as co-CEOs. Lazowski said he views both the leadership transition and the compa- ny's push deeper into technology and mobility as part of "LAZ 3.0" — the next chapter for a company he launched in 1981 as a parking service at Frank's Restaurant in downtown Hartford. By the end of its first summer, the business had grown to five parking locations and 30 employees. Its most recent major expansion came in July 2025, when LAZ acquired a 60% stake in INDIGO Park Canada Inc., adding about 1,700 employees and more than 1,200 parking areas to its portfolio. Lazowski said there is plenty of room for expansion, despite the company's already significant scale. "It's interesting because the market is so massive and it's so highly frag- mented that LAZ has less than 10% of the market nationwide," Lazowski said in a recent interview at the company's Hartford headquarters. "So, there is a lot of room still for growth." Organic expansion remains LAZ's primary growth engine. The company adds an average of about eight new parking locations a week — more than 400 annually — through new manage- ment contracts, Lazowski said. LAZ Parking — which has attracted outside capital, including a long-term investment from infrastructure investor Argo Infrastructure Partners in 2021 — has also completed 16 acquisitions over its history, including three last year, and has another three or four potential deals in its pipeline, Lazowski said. LAZ will remain selective, evaluating potential acquisitions based on a company's employees and cultural fit. "Organic growth will always be the cornerstone of LAZ," he said. Beyond parking contracts LAZ's parking footprint now spans more than 600 million square feet across North America, encompassing more than 2.2 million spaces. It manages most facilities for other owners but owns about 50 garages and lots. Part of its growth strategy could come from offering additional services to existing clients. At a hotel where LAZ already provides parking, for example, it could also offer banquet services. Continued on next page

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