Connect with us

Technology

Turning Rock Partners, Hudson Valley Parking Trust, Callaway Capital and Arkview Capital Provide Growth Investment for the acquisition of ICON Parking

Published

on

NEW YORK, July 29, 2024 /PRNewswire/ — Turning Rock Partners (“TRP” or “Turning Rock”), a New York-based private investment firm, and Callaway Hudson Partners (“CalHudson”), a partnership between Hudson Valley Parking Trust (“HVPT”) and Callaway Capital Management, LLC (“CCM”), have provided growth capital to support CalHudson’s acquisition of ICON Parking (“ICON” or the “Company”). Hudson Valley Parking Trust (“HVPT”) is a global parking acquisition platform operated by a team of parking veterans who have a demonstrated track record of portfolio expansion within multistate parking assets. The Company is an established operator of over 140 parking garages in New York, NY with 2 million annual parking transactions and features traditional parking, electric vehicle charging and other parking-related services.

The Company provides a strong base from which to pursue growth in ancillary markets

“Hudson Valley Parking Trust has a unique approach to scaling parking portfolios and the ICON platform provides a strong foundation for future growth,” said Turning Rock’s CEO and Managing Partner Maggie Arvedlund. “Parking assets faced challenges during the COVID pandemic with shifting work landscapes but are rebounding in the current environment. The Company provides a strong base from which to pursue growth in ancillary markets.”

“Our investment will enable the Company to capitalize on a unique market opportunity by acquiring a leading parking operator in New York City, the world’s most dynamic parking market and expand the ICON brand in the coming months,” said Hudson Valley Parking Trust Managing Director Jerry Skillett.

“We are excited to partner with Jerry Skillett in the next chapter of growth for one of the most recognizable brands in parking,” said Joon Chang, a co-founder of Arkview Capital. “Since our investment in 2023, we have built a solid platform with strong momentum to expand nationally and welcome our new partners on this journey.”

Turning Rock was advised on the transaction by Akin Gump Strauss Hauer & Feld for legal, BDO USA, LLC for tax advisory, Lockton Companies on insurance, and Silver Regulatory Associates LLC on ESG/DEI. CalHudson was advised on the transaction by Fenwick & West LLP for legal, KPMG LLP for finance, accounting and tax advisory and Marsh USA on insurance. Arkview was advised by Greenberg Traurig LLP for legal and RSM US LLP for accounting and tax advisory.

About Turning Rock Partners:
Turning Rock Partners (“TRP”) targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.

About Hudson Valley Parking Trust
Formed in 2021, Hudson Valley Parking Trust is a global parking acquisition platform led by an executive team of parking veterans that provides equity capital and management support to dynamic companies in the parking sector, globally. With over 130 combined years of experience, HVPT has managed and led many of the most successful companies in the parking sector.

About Callaway Capital Management
Founded in 2013 by Daniel Freifeld, Callaway Capital Management (“CCM”), LLC is a Nashville-based asset management and private investment firm that provides equity capital and strategic resources in support of dynamic companies and management teams.

About Arkview Capital
Arkview Capital is a private equity fund backed by the Ziff family office that invests in overlooked opportunities across business services, financial services, and transportation. Arkview provides strategic capital to businesses serving diverse communities, partners with diverse founders, and promotes diversity within procurement and supply chains of leading Fortune 1000 companies.

About ICON Parking
Founded in 1947, ICON Parking (“ICON”) is one of the largest parking management, operating and mobility services providers in New York City and the Tri-State area. Leveraging its 70+ years of experience, ICON provides world-class parking operations, management, and related services to customers and clients through its dedicated operations teams across commercial office, hospitality, municipalities, sports and entertainment, retail, and healthcare verticals, that results in exceptional customer, resident, and tenant parking experiences.

Media Contact:
Kate Shepherd, Kate@KateShepherdCommunications.com

View original content:https://www.prnewswire.com/news-releases/turning-rock-partners-hudson-valley-parking-trust-callaway-capital-and-arkview-capital-provide-growth-investment-for-the-acquisition-of-icon-parking-302208748.html

SOURCE Turning Rock Partners

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Doo Group Strengthens Global Reach with CySEC License for Doo Financial

Published

on

By

LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.

Expanding Regulatory Reach

The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.

“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU

Strengthening Client Confidence

Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.

By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.

About Doo Group

Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.

Photo – https://mma.prnewswire.com/media/2557948/Doo_Group_Strengthens_Global_Reach_with_CySEC_License_for_Doo_Financial.jpg

View original content:https://www.prnewswire.co.uk/news-releases/doo-group-strengthens-global-reach-with-cysec-license-for-doo-financial-302306893.html

Continue Reading

Technology

Liberty General Insurance Continues to Drive Insurance Awareness and Inclusion with ‘Suraksha ka Vaada Bima ke Saath’ Initiative Across Delhi and Punjab

Published

on

By

NEW DELHI, Nov. 15, 2024 /PRNewswire/ — Liberty General Insurance, one of the leading non-life insurance companies in India and the lead insurer for Delhi under the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan, is spearheading an insurance awareness initiative in Delhi. While there are no gram panchayats in Delhi, Liberty continues to drive insurance awareness through grassroots and digital outreach.

In parallel, Liberty is fulfilling its rural and social obligations by focusing on underserved areas in Punjab. This effort includes a recently initiated awareness campaign across 400 gram panchayats in Punjab to expand insurance penetration and increase accessibility in these regions.

In Delhi, Liberty continues to create awareness under ‘Suraksha ka Vaada Bima ke Saath’ initiative launched in 2023. This October Liberty began with a Door-to-Door Campaign across North-West and North East Delhi, reaching over 1600 households in Karala Village, Budh Vihar, Kanjawala Village and Begumpur, Burari, Kanhiya Nagar, Rampura, and Jahangirpuri, achieving over 25000 impressions. Over nearly a month, Liberty’s teams engaged with residents, distributing leaflets and explaining the benefits of motor and health insurance. This campaign was followed by the ‘Nukkad Natak’ (Street Play) initiative in South Delhi, targeting key neighborhoods of Sarojini Nagar, Lajpat Nagar, Nirman Vihar, Lakshmi Nagar, and Begumpur chowk market. The street plays used interactive performances to educate communities on the importance of insurance and dispel common myths. To reinforce the message, Liberty’s team also disseminated copies of the ‘Wise Ways of Insurance’ booklet—a unique resource developed to demystify insurance products and promote informed decision-making. The booklet, which is being translated into vernacular languages, is also being distributed in other states as part of Liberty’s commitment to financial literacy across India.

Complementing its on-ground efforts, Liberty General Insurance continues to leverage social media to drive targeted insurance awareness campaigns. Recognizing that widespread mobile access allows more people to connect online, Liberty reaches both rural and urban audiences, empowering individuals everywhere with the knowledge needed to make informed financial decisions.

Commenting on this awareness drive, Mr. Parag Ved, CEO & Whole-Time Director, Liberty General Insurance said, “Our ‘Suraksha ka Vaada Bima ke Saath’ campaign is an effort in line with IRDAI’s ‘Insurance for All by 2047’ vision, towards empowering communities across Delhi, Punjab, and beyond with the financial security that insurance provides. With general insurance penetration in India still at less than 1% of its GDP, there is a pressing need to educate communities and break down the barriers to understanding the importance of insurance. Liberty will ensure that its wide distribution network makes policies accessible to all, so that every citizen—no matter where they are—can access the financial safety net that insurance offers.”

“Liberty is committed to fostering a culture of financial resilience where every Indian can feel secure about their future. Together, we are building a future where insurance isn’t just a product but a promise of protection and peace of mind,Mr. Ved added.

Looking ahead, Liberty will be rolling out a transit media campaign across South Delhi in December, utilizing branded auto rickshaws to increase visibility and connect with residents in this vibrant area of the capital. By leveraging transit media, Liberty aims to bring insurance awareness into people’s daily routines, making information accessible in familiar, everyday settings. This campaign builds on the success of previous awareness initiatives and reinforces Liberty’s commitment to educating and empowering individuals about insurance.

About Liberty General Insurance

Liberty General Insurance Ltd. (LGI) is a joint venture between Summit Asia Investment Holdings PTE Ltd.— a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S., Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 28 states and UTs. Its partner network consists of about 6000+ hospitals and more than 5000 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, engineering insurance, marine insurance, liability insurance and property insurance among other products in India.

Photo: https://mma.prnewswire.com/media/2558927/LGI_organised_campaign.jpg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/liberty-general-insurance-continues-to-drive-insurance-awareness-and-inclusion-with-suraksha-ka-vaada-bima-ke-saath-initiative-across-delhi-and-punjab-302306895.html

Continue Reading

Technology

Hikvision unveils WonderHub and elevates smart collaboration across industries

Published

on

By

HANGZHOU, China, Nov. 15, 2024 /CNW/ — Hikvision unveiled its fully upgraded smart collaboration business. The event showcased a range of innovative products designed to transform collaboration in education, meetings, retail, and more. Among the highlights were cutting-edge solutions like WonderHub interactive displays, digital signage, and video conference devices. These products underscore Hikvision’s commitment to driving digital transformation and enhancing user experiences in an increasingly connected world.

At the heart of this ecosystem is WonderHub, which features WonderOS, an AI-powered platform that seamlessly connects devices and enhances collaboration. With tools like WonderSpark for interactive whiteboards and WonderCast for wireless content sharing, WonderHub enables users to communicate, create, and collaborate more effectively than ever.

Boosting Classroom Engagement with Innovative Solutions

In education, WonderHub is designed to elevate classroom experiences. The interactive displays enable students to share and express ideas effortlessly, creating a more engaging and dynamic learning environment. The built-in WonderSpark smart whiteboard software uses AI to recognize equations, provide solutions, and generate interactive 3D teaching materials across subjects like mathematics, chemistry, and natural sciences. Teachers can also access licensed images and videos through Creative Commons integration, enriching lesson content and boosting student engagement.

Classrooms equipped with WonderHub also benefit from multi-window modes and a suite of 19 educational tools. These include subject-specific templates and interactive applications. For remote learning, WonderHub integrates seamlessly with third-party conferencing platforms, allowing students to collaborate in real-time, no matter their location.

Empowering Business Meetings with Intelligent Features

Hikvision’s smart collaboration solutions transform business meetings into more efficient and immersive experiences. The WonderHub Ultra Series allows users to easily connect personal devices and leverage the interactive display’s camera, speakers, and microphone for high-quality remote conferencing. The HiSpire meeting management system streamlines meeting logistics, including room scheduling, attendee notifications, post-meeting summaries, and distribution of materials.

Advanced AI features, such as auto-framing and speaker tracking, ensure optimal video quality. Meanwhile, app-free screen casting allows for easy sharing of presentation materials. The X12 and X28 audio-video cameras offer enterprises tailored setups to suit meeting rooms of any size, ensuring seamless communication with high-definition video and precise audio capture.

Transforming Retail Spaces with Dynamic Digital Signage

Hikvision has also advanced its digital signage solutions to enhance customer engagement in retail scenarios. The vibrant displays and centralized content management allow retailers to effectively capture attention. High-brightness window displays attract passersby with promotions and new product highlights. Meanwhile, floor-standing signage supports interactive features, such as self-service ordering. The HikCentral FocSign platform enables retailers to remotely manage and distribute content across multiple locations, improving operational efficiency and ensuring consistent branding.

These digital signage solutions, including the DP and DL series, boast superior brightness and clarity, ensuring visibility even in strong lighting conditions. The displays run on Hikvision’s self-developed platform and support WonderCast wireless casting, enabling quick and easy content sharing from various devices.

Since entering the smart collaboration market in 2017, Hikvision has rapidly become a leading global player. With over 300,000 units sold across more than 140 countries and regions, Hikvision’s smart collaboration business exemplifies the company’s commitment to innovation, quality, and user-centric design. As a key highlight of this evolution, the fully upgraded WonderHub represents the next leap forward in smart collaboration technology.

By bridging advanced technology with practical applications, WonderHub, along with Hikvision’s broader range of smart collaboration solutions, is leading the way in providing more efficient and intelligent solutions for users worldwide.

For more information about Hikvision’s smart collaboration products and solutions, please visit Hikvision’s official website.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hikvision-unveils-wonderhub-and-elevates-smart-collaboration-across-industries-302306901.html

SOURCE Hikvision Digital Technology

Continue Reading

Trending