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

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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

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MOAJ Holding invests $30M in Joint Venture with MediSun Energy to Tackle Water Scarcity and Brine Challenges in Saudi Arabia

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September 30, 2024

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SINGAPORE, Sept. 30, 2024 /PRNewswire/ — MediSun Energy and MOAJ Holding are pleased to announce the formation of MediSun Arabia, a joint venture designed to drive innovative energy solutions and tackle water scarcity in Saudi Arabia. As part of this strategic partnership, MOAJ Holding will invest USD 30 million to establish a cutting-edge manufacturing facility and co-develop a Saudi Brine Management Program with MediSun Energy.

The venture will include the construction of a manufacturing hub to produce MediSun’s WEGen stacks, critical components supporting renewable energy projects across the region. This facility will boost local industrial capabilities and play a central role in Saudi Arabia’s renewable energy transition, aligning with Saudi Vision 2030. Additionally, MOAJ Holding will be the exclusive distributor of MediSun Energy’s technologies throughout the Gulf Cooperation Council (GCC), expanding MediSun’s footprint in the Middle East.

Together, the partners will spearhead the Saudi Brine Management Program in collaboration with a leading academic institution renowned for its desalination research. This ambitious R&D initiative aims to address the environmental challenges of desalination brine by developing cutting-edge treatment technologies aligned with Saudi Arabia’s sustainability goals.

Dusun Kim, CEO of MediSun Energy, commented, “This joint venture marks a significant milestone for MediSun Energy as we expand operations in Saudi Arabia. Our WEGen technology, which harnesses Reverse Electrodialysis (RED) to efficiently convert saltwater into electricity, will play a key role in advancing Saudi Arabia’s sustainability targets by generating clean energy and reducing consumption. With MOAJ as our partner in the GCC, we look forward to a long-term partnership that drives meaningful impact.”

HE Mohammed N. Al Jasser, Founder of MOAJ Holding, added, “We are excited to partner with MediSun Energy in this transformative joint venture. Our shared vision for advancing sustainable energy and water management in Saudi Arabia highlights the significance of this collaboration. MediSun’s WEGen technology, which enhances energy efficiency while producing clean power, is aligned with the region’s sustainability goals. Together, we are dedicated to delivering these innovative solutions to the broader Middle East market.”

This joint venture positions both MOAJ and MediSun as key players in addressing the region’s water and energy challenges, aligned with Saudi Arabia’s Vision 2030 for a sustainable future.

About MediSun Energy

MediSun Energy is a technology-driven company focused on providing innovative, clean energy solutions. Its flagship WEGen technology leverages osmotic power to enhance energy efficiency in water desalination and renewable energy generation. Committed to a net-carbon neutral future, MediSun delivers sustainable, practical solutions that align with the global vision for a greener planet.

About MOAJ Holding

MOAJ Holding is a leading investment group with a focus on sustainable development across key sectors including energy, technology, and infrastructure. In line with Saudi Arabia’s Vision 2030, MOAJ invests in transformative projects that promote economic diversification and environmental sustainability.

For more information, visit www.medisun.energy or write to info@medisun.energy. You can also follow MediSun on LinkedIn.

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SOURCE MediSun Energy

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Casio to Release New Analog G-SHOCK with Octagonal Bezel and Chronograph Dial

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5 mins ago

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September 30, 2024

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Full-Metal Model in the Slim and Popular 2100 Style

TOKYO, Sept. 30, 2024 /PRNewswire/ — Casio Computer Co., Ltd., announced today the release of the latest addition to the G-SHOCK family of shock-resistant watches. The new analog full-metal GMC-B2100 is a chronograph timepiece in the 2100 Style, which is known for its iconic octagonal bezel.

With the 2019 release of the first 2100 Style watch — the GA-2100 digital-analog combination model — Casio presented a contemporary interpretation of the very first G-SHOCK. Known for its distinctive octagonal bezel and slim, stylish design, the 2100 Style has been proven popular around the world.

The new GMC-B2100 is a shock-resistant watch that boasts a full-metal octagonal bezel and three functional inset dials, for a bold, fully analog face design.

For this chronograph model with metal exterior and analog face, the band and the bezel’s top surface feature a refined hairline treatment, while the subtly sloped bezel sides have been given a beautifully polished mirror finish. The indexes and inset dials are crafted using intricate fine processing technologies and finished with vapor deposition, not only delivering a high-quality texture but also ensuring excellent readability. The iconic octagonal design motif of the 2100 Style is incorporated into the inset dial ring in the 9 o’clock position as well as the screw-down crown, adding a powerful sense of presence to the full-metal form of the watch.

The new watch delivers practical utility, as well. The GMC-B2100 comes with the Tough Solar charging system, which effectively converts light from the sun and indoor light sources to power the watch, eliminating the need to regularly replace the battery. It is also equipped with the Mobile Link feature* for accurate timekeeping display and easy setting of alarms, world time and other functions when paired with a smartphone via Bluetooth®.

* Requires downloading the dedicated CASIO WATCHES app.

Photo – https://mma.prnewswire.com/media/2510881/GMC_B2100_KV__1.jpg
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View original content:https://www.prnewswire.co.uk/news-releases/casio-to-release-new-analog-g-shock-with-octagonal-bezel-and-chronograph-dial-302254269.html

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Why Are Multinational Corporations Confident of Chinese Market?

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5 mins ago

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September 30, 2024

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BEIJING, Sept. 30, 2024 /PRNewswire/ — Finding Answers in China from China.org.cn:

 

As global economic uncertainties linger, multinational corporations are eyeing promising opportunities in China. What makes China a magnet for these companies? How are they adapting to the fast-paced changes in the market? In today’s episode of “Finding Answers in China“, Yoon Doson, CEO of CJ China, tells why he remains confident of the future in China.

Why Are Multinational Corporations Confident of Chinese Market?
https://youtu.be/AEv0m0avnGY

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/why-are-multinational-corporations-confident-of-chinese-market-302261774.html

SOURCE China.org.cn

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