TIBA Parking Systems Announces New Investment
July 27, 2015 Atlanta, GA – TIBA Parking Systems is pleased to announce a significant milestone in its growth. TIBA has been gaining increasing market awareness and traction and has had excellent year-over-year growth for multiple years. In recognition of this growth and of the company’s potential, TIBA has signed a Memorandum of Understanding (MOU) with Tene Investment Funds, a $500M private equity fund, whereby Tene will invest in the company effective September 8, 2015. “TIBA is a growing company, with advanced technology and product line. In recent years, TIBA succeeded in breaking through international markets, demonstrating business initiative and creativity. We will work together toward continued growth and prosperity, making TIBA a global market leader,” notes Tene.
This investment will be used to accelerate the company’s growth via research to support development of new products, the enhancement of existing products and services, and the addition of personnel. “This strategic business step accelerates TIBA’s tremendous potential that was built with our existing partners. TIBA is a leading global player in the international marketplace, and will play a major role in shaping the industry in the years to come,” stated CEO Erez Ezra. “Tene’s investment coupled with an extraordinary staff will propel TIBA forward toward an even brighter future.”
“We are excited about the opportunities that have opened up to us due to the new relationship with Tene,” said TIBA CEO-Americas Michael H. Bigbee. “This new funding is in support of our strategic plan and allows us to achieve our goals in a much shorter period of time.”
TIBA’s long-term strategy includes exploring acquisition of companies or businesses to facilitate its growth, enhance its global market position and broaden its product offerings. Such acquisitions may help the company expand into adjacent markets, add complementary products and services or allow the company to further leverage its distribution channels.
About TIBA Parking Systems
TIBA Parking Systems develops and manufactures innovative hardware and cutting edge software for parking access and revenue control systems. With 29 years of experience in barcode technology, design and production, TIBA systems cater to customers from widely diverse industries. TIBA is a global market leader with its U.S. base of operations in the Atlanta, GA metro area, and is a corporate member of Afcon Holdings ($500M USD), and the Shlomo Group Holdings ($2.5B USD), traded on the TASE market in Israel. For more information about TIBA Parking Systems, please visit the company’s website at http://www.tibaparking.com.
About TENE Investment Funds
TENE Investment Funds is an Israeli Private Equity fund focused on investment in Israeli-related industries. TENE invests in export and growth oriented companies with leading global market positions. For more information regarding the fund please see http://www.tenecapital.com.
For more information, please contact:
David K. Tilley
5126 S. Royal Atlanta Dr., Tucker, GA 30084 U.S.A.
Office: +1 (614) 460-9443
Fax: +1 (770) 934-3384