GB & Partners Private Equity Group Acquires Majority Stake in Parking Revenue Recovery Services
Partnership with GB & Partners and portfolio asset Asura Technologies brings PRRS expansion opportunities to U.S.
DENVER — Parking Revenue Recovery Services (PRRS), Inc., a leader in parking enforcement and revenue collections services, yesterday announced the sale of the company’s majority stock to GB & Partners Investment Management. GB & Partners and its portfolio company, Asura Technologies, own the majority share in PRRS. With this injection of new capital, PRRS is set to accelerate momentum under the new ownership and further advance its mission within the parking industry.
The acquisition strengthens the strategic partnership of PRRS’s 20 years of unique parking enforcement and collections expertise, with Asura’s video analytic systems and AI-based license plate recognition software. PRRS and Asura previously brought ARC System to the market—a parking enforcement automation system using video analytics technology to register parking vehicles and automatically match parking payment data. The ARC System omits the need for gates or barriers to obstruct traffic flow in and out of parking lots. ARC360, a product expansion option, is a collection of services that cover the full spectrum of parking enforcement, citation management, and collection services.
ARC is already active on dozens of parking sites across five U.S. cities. To meet the extreme growth demand, the transaction with GB & Partners includes a deal to provide funding for new ARC and ARC360 installations in hundreds of North American parking operations, making PRRS with ARC the critical player in parking revenue collection and enforcement.
“I’m excited for our deal and look forward to this extremely exciting partnership. Backed by the expertise and resources of GB & Partners and working alongside Asura Technologies positions PRRS ARC360 as a leading provider of new services for the future of parking across the country. The industry is changing fast, and this deal puts us in the front of the pack,” said John D. Conway, Co-founder and Chief Business Development Officer at PRRS.
About G&B Partners
G&B Partners is an independent private equity and venture capital fund management firm that specializes in smart city technologies, fashion, fintech, medical technologies and mechanical engineering. As the largest Hungarian-based firm of its kind based on assets, the management boasts a wide range of leadership experience in the fields of PE and venture capital investments/divestitures, M&A transactions, and IPOs, and provides close operational support to investment entities, according to international industry standards.
G&B Partners was granted a total membership of invest Europe in 2019, thus becoming the first Hungarian venture capital firm to receive that honor.
About Parking Revenue Recovery Services
Parking Revenue Recovery Services, Inc. (PRRS) is the leading Parking Enforcement and Collection Services provider in North America. PRRS provides customized enforcement and collection programs designed to increase revenue while eliminating expenses. PRRS creates exceptional value for clients, municipalities, universities, and other entities by (1) increasing overall customer compliance while delivering exceptional customer service; and (2) maximizing enforcement and collections revenue.
About Asura Technologies
Asura Technologies develops future generation video analytics systems and license plate recognition software, using AI to create smart parking, traffic management, and general security and safety applications. The company is active around the globe building software solutions for its partners in North America, the GCC region, Europe, and Asia. Asura has been present in the U.S. since 2018. Asura Technologies USA partnered with PRRS to offer uniquely effective, automatized parking enforcement solutions by implementing its innovative technology.
John D. Conway
Co-Founder Chief Business Development Officer
Asura Technologies Releases New LPR-Based Digital Chalking Technology
Asura Technologies is happy to announce the released a new feature for our mobile LPR solution ARU MOVE: digital chalking. Digital chalking is a great solution for on-street parking enforcement. Physical contact with the vehicle is no longer a problem; it is fully eliminated from the process with license plate recognition and GPS location tagging. Huge areas may be covered by enforcement officers as digital chalking is designed to be an on-board solution for enforcement vehicles.
How Asura’s digital chalking works
The user may draw multiple parking zones and set their respective parking time limits in the ARU Manager. The software continuously checks whether a parking vehicle within the boundaries of a designated zone exceeds the parking time limit. The check is based on license plate reading – if a license plate is read within the same parking zone exceeding the free parking time limit, it sends an alert to the operator and indicates the violation in the database entry of the given vehicle.
Some of the perks of using digital chalking for on-street parking enforcement include:
- Chalk vehicles without physical contact – The advantage of having Automatic License Plate Recognition as the basis of chalking officers only need to drive around the parking zones, the software handles the rest.
- Enforceable – The solution is designed to help enforcement officers decide if a vehicle is still in the same location and store evidence for the case of a citation dispute. All vehicle entries contain the license plate number, timestamp, GPS location and picture of the vehicle.
- Automatic alerts – Sends an automatic alert to the operator if a vehicle’s license plate is read multiple times inside the same parking zone exceeding the maximum waiting time.
- Easy database handling – Sort, list or filter results based on any aspects of the parking. Date, license plate number, parking zone or time.
- Real-time mapping – All events are mapped real-time and location along with additional parking data are saved for future reference.
- Integration-ready – The chalking feature along with the mobile ALPR (ARU MOVE) solution is available as OEM. Like all Asura software ARU MOVE with the digital chalking feature is easy to integrate into any parking enforcement system.
The new release of ARU holds some exciting new features for our mobile ALPR solution, ARU MOVE. GPS location tracking is now part of the package while digital chalking is available as an add-on feature. Also, as of the current release ARU is available as two editions: ARU MOVE is for mobile utilization (e.g. car-mounted). ARU FIX is to be used as the ALPR solution for fixed installations. Despite that due to the similarities of the functions and handling of the two editions, we decided not to split the version numbers, so both editions will be under the same version number.
For more information, visit https://asuratechnologies.com/.
Asura Technologies enters into strategic partnership with Umojo to deliver parking garage management solutions across the United States
Asura Technologies, the new generation LPR and video analytics company developing plug ‘n play, camera agnostic, AI-powered data collection systems is proud to announce entering into strategic partnership with Umojo to deliver fully automated, turn-key parking garage management solutions across the United States.
“We are truly happy and excited to enter into a strategic partnership with Umojo sharing the same passion for automation through non-invasive and innovative software solutions. Looking for expansion possibilities in the US we find Umojo a great partner to equip US indoor parking sites with the latest parking technology implementing LPR. I believe that by leveraging on the synergies of Umojo’s garage management- and DVS solutions and Asura’s LPR and video analytics software we are offering operators an all-round yet still economic, easy-to-fit and truly intelligent parking solution.” – says Mate Kiss Gyorgy, CEO of Asura Technologies.
“I believe that delivering ultimate garage automation through combining our IoT and NVR technology-basedservices with LPR is without doubt a 21st century parking management solution. A software suite that includes Call Center, Garage Incident Management, HD Video, HD Intercom, Analytics, Online reservation integration, Revenue control integration combined with LPR and video analytics-based vehicle recognition is arguably the best in class garage automation platform out there. By focusing on the core needs of automating garages, we provide a complete solution to track issues, notify field personnel, and provide historical reporting and analytics, all via a hosted platform. Our strategic partnership with Asura brings together services that naturally complement each other to provide top-class customer experience on an extremely competitive price level.” – adds Rick Neubauer, founder and CEO of Umojo.
Indeed, the solution created with the joint efforts of Asura and Umojo is all about customer focus; a completely software-based garage management platform easy-to-integrate into existing infrastructure delivering customizable reports on-demand. The system has already been put into practice in a pilot project delivering exceptional results in Chicago, IL. Visitors at the National Parking Association’s annual Convention and Expo in Las Vegas may already watch the footage recorded during the pilot.
Asura Technologies is the new generation LPR and video analytics company creating easy to integrate, camera agnostic data collection systems. Our LPR- and video analytics-based vehicle recognition technology is used for parking- and traffic management applications as well as general security and surveillance.
Asura Technologies made its debut with the Asura Recognition Unit (ARU) Plug and Play LPR in 2017 delivering an easy-to-integrate, flexible solution. ARU earned a quick recognition of the traffic management industry exemplified by integration with major parking management systems and earning a Special Mention at 2018 Intertraffic Innovation Awards.
Umojo’s Cloud based call center is the industry leading platform integrating HD Video, HD Intercoms, IOT, and PARCS with real-time data visibility, incident management, alerting, performance metrics and analytics. Provided as a Standalone platform or Command Center as a service, it is tailored to each customer’s needs and scalable from one garage to your entire portfolio or municipality at a fraction of the cost of other solutions, while reducing OPEX by $150k-250K per year per location.
Mr. Kevin Woznicki
Asura Technologies USA Inc.
1 215 478 1169