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Icon Parking Seeks National Expansion Following Management Buyout
Icon Parking on Tuesday announced a management buyout, led by president and CEO John D. Smith and Arkview Capital, a leading minority-certified private equity fund focused on investing in minority business enterprises, to create the largest minority-owned parking and mobility service provider in New York City and one of the largest in the U.S. Icon will seek to expand nationally, growing its existing footprint of nearly 200 locations.
“As a leading parking management and mobility services provider in one of the most complex parking markets in the world, Icon is uniquely positioned to leverage its brand — with 76 years of operating history along with its new digital and advanced analytics platform — to accelerate the transformation of the US parking industry,” said Smith.
Under the new ownership, Icon will accelerate its commitment to EV infrastructure and add up to 2,000 EV charging units across its portfolio.
- ◦Sale/Acquisition
