Tag Archives for: PRRS

Mike Drow named Parking Revenue Recovery Services President and CEO

January 25, 2022

 

Mike Drow named Parking Revenue Recovery Services President and CEO

 

 

 

DENVER  — Parking Revenue Recovery Services (PRRS), Inc., a leader in parking enforcement and revenue collections services, today named Michael Drow as its new President and CEO effective February 1, 2022. Mr. Drow is recognized as a proven leader in the parking industry having built several technology-based solutions and service operations during his 15 years in the industry.

Drow joins PRRS with expertise and industry perspective. Having worked at T2 Systems, a leading provider of parking and mobility technology solutions, he served as Senior Vice President Sales and Corporate Development. Prior to that, he worked at SP Plus Corporation supporting parking management operations and directly responsible for the development and growth of several innovative technology business units such as remote management and mobile parking payment platforms.

PRRS’ unique parking enforcement and collection service—a service that is legally compliant and a financial asset to owners and operators—combined with Drow’s experience in parking technology and leadership, will enable PRRS to expand its services across North America.

“Mike has a track record of driving innovation through introducing and growing new technology- based services. As the necessity for agile service providers to meet clients’ current and future needs increases in importance, Mike’s industry experience combined with his respected leadership and desire to collaborate with customers and partners makes him the right fit to lead PRRS’s growth. We’re thrilled to have Mike leading the business,” said Gabor Burchner, PRRS Board of Director.

PPRS and Asura brought ARC and ARC360 systems to the market to support PRRS enforcement services. This parking enforcement services already active on over 100 parking sites across five

U.S. cities. With the recent investment by GB & Partners, it will soon expand to hundreds of North American parking operations, making PRRS with ARC the critical player in parking revenue collection and enforcement management services.

“I am very excited to join PRRS and deliver value added services to our parking operating partners, making them more successful,” said Mr Drow. “During my career, I’ve challenged the status quo. I’ve championed the delivery of innovative solutions and services in a quickly changing industry. PRRS has been an innovator in the use of technology to deliver their services, and with the recent investment by GB & Partners, we can deliver more value to the parking industry. I cannot be more thrilled to have the opportunity to collaborate with the PRRS team, and our existing and future customers, to continue to challenge norms and deliver innovative enforcement and collection services.”

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.

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.

Contact:
John D. Conway
Co-Founder Chief Business Development Officer jconway@PRRSparking.com
720-363-5638

GB & Partners Private Equity Group Acquires Majority Stake in Parking Revenue Recovery Services

August 04, 2021

 

 

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.

Contact:
John D. Conway
Co-Founder Chief Business Development Officer  
jconway@PRRSparking.com
720-363-5638

Best-in-Class Parking Enforcement through ParkiFi Partnership

May 18, 2017

 

Best-in-Class Parking Enforcement through ParkiFi Partnership

 

 

 

Denver, CO (May 18, 2017) Parking Revenue Recovery Services (PRRS), Inc., new leaders in Parking Enforcement and Collections Services, is excited to announce its partnership with ParkiFi in Denver. The PRRS All-Inclusive Enforcement Program delivers a turn-key enforcement solution to clients that includes enforcement staff on the ground, collections, payment processing and state of the art technology with real-time reporting.

 

PRRS’s enforcement expertise combined with ParkiFi’s loT-enabled, wireless smart sensor technology will provide operators with the most advanced end-to-end enforcement solution. The partnership will kick off with 2,800 spaces in 34 locations throughout downtown Denver, and will enable ParkiFi to add over 2,300 additional spaces to the ParkiFi mobile app.

 

PRRS and ParkiFi plan to expand to markets such as Nashville, Knoxville, Phoenix, Dallas, Austin, Fort Worth, San Antonio, and Houston.

 

Parking Revenue Recovery Services, Inc.’s Senior Vice President John D. Conway stated, “we are extremely excited to partner with ParkiFi in order to deliver the best turn-key enforcement solution to our clients. The addition of the ParkiFi technology will enhance our team’s efficiency while allowing us to deliver customized reports and dashboards to our clients. Our team is confident that our services will change how the industry approaches Parking Enforcement and Collections.”

 

ParkiFi’s Founder and CEO, Ryan Sullivan, stated, “We are excited to work with PRRS to extend ParkiFi’s available parking inventory across Denver and beyond. We believe this relationship will significantly impact our growth and will help our team enhance the enforcement reporting and dashboard that we offer to our clients in the future.”

 

 

About Parking Revenue Recovery Services

 

Parking Revenue Recovery Services, Inc. (PRRS) is the leading provider of Parking Enforcement and Collection Services in North America. PRRS provides customized enforcement and collection programs designed to increase revenue while reducing 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 their collections revenue. PRRS has over 50 clients that represent the parking industry, including municipalities, parking operators, universities, public transit and property owners across North America. For more information visit  www.parkingprrs.com

 

About ParkiFi

 

ParkiFi, a parking occupancy and payment platform, provides real-time utilization data and actionable insights to municipalities and parking operators via a cloud-based analytics dashboard. ParkiFi installs smart sensors in individual parking spaces at lots, garages, and on-street to monitor occupancy, parking times, pricing optimization trends and outcomes, violations and more. Plus, ParkiFi’s payment-enabled app directs drivers straight to your open inventory, increasing revenue and brand exposure, while reducing city congestion. For more information visit http://www.parkifi.com/operators