Tag Archives for: acquisition

ParkWhiz Acquires Tel Aviv-Based CodiPark

May 31, 2018

 

 

 

ParkWhiz Acquires Tel Aviv-Based CodiPark

 

 

 

Acquisition Enhances Company’s Strength in Connected Mobility and

Mobile Payments

 

 

Chicago, May 31, 2018 – ParkWhiz announced today that it has acquired CodiPark, a Tel Aviv-based company known for industry-leading solutions that deliver a friction-free parking experience. With the acquisition, ParkWhiz will add drive-up mobile payments to its Parking Platform, which powers numerous third party mobile apps, as well as its own ParkWhiz and BestParking brands. In addition to having the option of pre-booking parking, consumers will now also be able to simply drive up to a lot or garage, pull a ticket and pay by scanning it in whichever ParkWhiz-powered app they are using. Payment and validation are managed without ever visiting a kiosk, or blocking traffic at a gate while fumbling for a credit card or cash.

 

The company is working collaboratively with parking access control systems and parking operators to offer drivers more seamless ingress and egress options via mobile devices and connected vehicles. The acquisition is part of a broader strategy by ParkWhiz aimed at solving the last mile of connected and autonomous mobility.

 

“CodiPark’s world-class technology and inspired engineering talent further enhances the ParkWhiz Platform by delivering more friction-free parking options to drivers and their vehicles,” said Yona Shtern, CEO of ParkWhiz. “It will also reduce the burden on operators of handling cash and improve the flow in and out of their facilities. This is another strategic step ParkWhiz is taking to advance connected mobility and to enable consumers in their platform of choice, whether it be through app, voice or in-dash.”

 

With the acquisition, ParkWhiz will maintain an office in Tel Aviv–a city known as a global connected mobility hub with specific heritage in wireless communications and navigation–to continue to develop new mobility solutions for its partners.

 

“ParkWhiz is a highly innovative company that is consistently one step ahead. We are excited to integrate  our technology into their Platform, and to work with our industry partners to make parking a more connected and efficient experience for everyone,” said Tavor Ilan, co-founder and CEO of CodiPark.

 

Impark Acquires U.S.-wide parking company; Republic Parking

April 09, 2016

Impark

Impark Acquires U.S.-wide parking company; Republic Parking

 

 

VANCOUVER, British Columbia, April 8, 2016  — Imperial Parking Corporation (“Impark”), one of North America’s leading parking operators, today announced it has completed the acquisition of Republic Parking System, a parking management company headquartered in Chattanooga, TN, and Republic Parking Northwest, based in Seattle, (collectively “Republic Parking”) operating facilities in more than 100 cities in the United States. The terms of the transaction were not disclosed.

 

Founded in 1966 by prominent business leader and philanthropist, James C. Berry, Republic grew to be a significant provider of parking management services in the United States with over 770 locations and 2,500 employees. The company specializes in providing parking, shuttle, curbside valet and traffic management services to airports, also parking and citation management systems for municipalities, as well as operating commercial parking operations in cities including Chattanooga, Denver, Houston and Seattle.

Commenting on the transaction, Scott Titmus, President of Republic Parking System stated, “Republic was founded on providing a truly hands-on approach to managing parking services for our clients, and I am excited this transaction will see us maintain our commitment to that promise, while taking advantage of the technology and systems platform that Impark continues to invest in. This is a ‘win-win’ for everyone involved.” Titmus went on to say that he expects the transition to be seamless regarding management and staff and the company will continue to operate under the Republic Parking System brand.

Gary Beck, President of Republic Parking Northwest, added, “We are pleased to be joining forces with Impark to create the leading parking operator in the Pacific Northwest and continue the tradition of service excellence to our clients”.

The seller was represented by The Spartan Group.

The acquisition of Republic Parking significantly expands Impark’s footprint in the United States, firmly establishing the organization as one of the largest parking companies in North America. Allan Copping, Impark’s Chief Executive Officer, said of the transaction, “The Republic transaction is a perfect fit with Impark’s business. In addition to increasing the geography and client base served, the acquisition brings expertise in both the airport and municipal parking sectors, as well as a talented and experienced management team.”

Imperial Parking Corporation (Impark), with U.S. headquarters in Philadelphia, PA and corporate headquarters in Vancouver, B.C., Canada, is one of the largest parking management companies in North America with approximately 3,400 locations, and over 9,000 employees.

SOURCE Impark

Marlin Equity Partners Acquires Duncan Solutions

February 11, 2016

MILWAUKEE, Wis. (February 11, 2016) – Duncan Solutions, Inc., a leader in on-street parking management, enforcement technology, debt collection services and tolling solutions, announced today that it has been acquired by Marlin Equity Partners, a global investment firm with over $3 billion of capital under management.

This acquisition takes effect immediately. Details of the deal were not disclosed.

“For the past year, we have been focused on expanding our business and enhancing the value we provide to our clients and partners through our technology and services solutions,” commented Tim Wendler, Director of Duncan Solutions. “In Marlin, we identified a true partner that is enthusiastic about our market and our strategy. We are very excited to have its support moving forward.”

Duncan Solutions, which includes subsidiaries Professional Account Management, LLC, Law Enforcement Systems, LLC, and Enforcement Technology, Inc., will continue to be managed in this transition by an experienced team led by Chief Executive Officer Mike Flaherty.

“We are thrilled to partner with the existing management team to build upon Duncan’s leading market position and extensive client base,” said George Kase, a partner at Marlin. “Duncan is well positioned to capitalize on strong growth in its key markets, and we are excited to work alongside the most experienced leadership team in the parking management industry and help accelerate the company’s next stage of growth.”

For more information:

For more information on Duncan news, visit DuncanSolutions.com/NewsAndEvents. For more information on Duncan’s products and services, visit DuncanSolutions.com.

About Duncan Solutions

Duncan Solutions, Inc., is a full-service parking management company and a leading provider of parking and transportation management products and services to municipal and commercial clients, including enforcement solutions, citation processing, customer service, debt collections, tolling solutions, and integrated on-street parking management services. Since 1936, the Duncan name has stood for quality, durability, and innovation in service to its clients. More information about Duncan Solutions is available at DuncanSolutions.com.

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $3 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 100 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.

For More Information, Contact: James Kennedy, (414) 847-3773, jkennedy@DuncanSolutions.com

Boomerang Systems is seeking to sell all its assets

January 21, 2016

boomerang Systems

Boomerang Systems, Inc. (the “Company”) is an innovator on the frontline of automated parking systems with its robotic parking system, the trademarked “RoboticValet®.” The RoboticValet® is a low profile, omni-directional robot that carries vehicles parked on steel trays to and from the spaces by “driving” them on a concrete slab without the use of a rack, rail, or track. The entire parking transaction is automated. Boomerang’s solution is a disruptive, highly differentiated and defensible technology with numerous patents and proprietary trade secrets.

For further information, regarding the company please visit Boomerang System’s website at:

On August 18, 2015, Boomerang Systems filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Case #15-11729). The company is seeking a sale of all its assets under section 363 of the Bankruptcy Code.

For further information regarding the bankruptcy please visit: http://www.gardencitygroup.com/cases-info/BMR/

Transaction Overview
Boomerang Systems Is seeking to sell substantially all its assets under section 363 of the Bankruptcy Code. The Company intends to enter into a stalking horse purchase agreement with its Debtor-In-Possession Lender, who will credit bid its debt (approx. $2.25 million). It is anticipated the Bankruptcy Court will approve certain sale procedures within the next month, which will set forth when and how bids may be submitted, deposit requirements, and auction procedures. Those procedures will be provided to interested parties as soon as available.

Transaction Contacts
Gavin/Solmonese, LLC has been retained as the financial advisor to Official Committee of Unsecured Creditors and is overseeing the process to sell the assets of Boomerang Systems. To participate in this process or to obtain additional information, contact Gavin/Solmonese. No company personnel should be contacted directly. Please direct all inquiries to Gavin/Solmonese professionals:
Stan Mastil
Director
(302) 655-8997, ext. 153
stanley.mastil@gavinsolmonese.com

Joseph Richman
Consultant
(646) 380-6616
joseph.richman@gavinsolmonese.com