ICON PARKING Chairman & CEO John D. Smith NAMED NATIONAL PARKING ASSOCIATION “INNOVATOR OF THE YEAR”

(New York, NY – September 20, 2023) 

‍John D. Smith, Chairman and Chief Executive Officer of Icon Parking, has been presented with the prestigious Innovator of the Year award by the National Parking Association (NPA) at their annual convention this week in New Orleans.  The NPA’s Innovator of the Year award is presented to a parking industry leader who has demonstrated significant industry or organization success; advanced innovative ideas, products, or practices; or has demonstrated exemplary leadership in and positively contributed to the industry.

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NPA President & CEO, Christine Banning, IOM, CAE, said, “John is an exemplar of a great leader and innovator.  His dedication to the industry and his innovative approach to technology, customer service and safety demonstrated a way to serve, scale, and sustain dynamic parking services during and beyond the pandemic.”  

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“My team’s commitment, collaboration, and entrepreneurial spirit have played a vital role in my success,” said Icon Parking Chairman and CEO John D. Smith. “Furthermore, I am genuinely humbled to be among the accomplished individuals who have come before me and received this award.”

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The NPA recognized Mr. Smith’s application of his knowledge and experience in growing companies and brands and his extensive leadership background, which he leveraged to transform a 76-year-old traditional parking operation into a digitally enabled consumer-centric brand elevating the customer experience.

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Smith joined Icon as CEO just before the pandemic, following successful executive roles in retail, hospitality, gaming, and restaurants.   He had the challenge of starting this transformation as a worldwide health emergency hit.  And as he has done many times, Smith combined his business expertise, an understanding of the customer and the marketplace, and a respect for his team members with his own determination to transform Icon Parking.

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Smith worked with his Icon colleagues to leverage digital technology during the pandemic to go from 99%+ paper tickets to 99+% digital transactions under Icon’s ParkSafe program, protecting both his team and Icon’s customers.  The result was safe interactions at the height of the pandemic which have endured post-pandemic due to the removal of significant friction from the customer journey, while creating major efficiencies for Icon – a win-win.

The results of Smith’s innovative approach to the parking industry, his personal leadership style, and business expertise are exemplified by Icon’s TrustPilot scores of 4.5 out of 5 across the garage portfolio, ranking Icon as a leader in customer satisfaction in the US parking industry.

Smith helped his team create new parking products that never existed in the New York City or U.S. parking industry and remain unique to Icon through leveraging digital technology and analytics, such as monthly subscriptions and instant consumption.  Icon’s digital initiatives now drive digital demand directly to consumers, who can easily book parking, resulting in Icon generating significant digital traffic. 

Under Smith’s leadership, Icon implemented dynamic pricing and mix optimization algorithms and introduced new performance metrics to normalize and measure results.  

In addition to reshaping the way Icon does business, Smith in April led a management buyout, making Icon the nation's largest minority-owned parking management and transportation services provider.  He has positioned Icon to scale nationally to service the unmet needs of corporate, educational institutions, event and sports venues, professional sports leagues and government entities who have committed to spend billions with minority suppliers but are not able to partner with vendors of scale with a national footprint.  This has provided a roadmap for owners and entrepreneurs, particularly minorities, to leverage private direct investments to acquire and build businesses of scale to close the wealth gap in America.

About Icon Parking

Founded in 1947, Icon is the largest minority-owned parking management and mobility services provider in the New York City metro and one of the largest in the nation with almost 200 locations.  Icon leverages its digital and advanced analytics platform to provide parking operations, management, and related services to clients through extraordinarily engaged team members across Commercial Office Buildings and Real Estate, Food and Beverage, Municipalities, Sports and Entertainment, Retail, and Healthcare, resulting in exceptional customer, resident, and tenant experiences.  Icon’s mission is to simplify city life, one customer at a time by connecting them to where they live, work, and play; and believes, “Parking is just the start!” For more information, please go to www.iconparking.com. 

ICON PARKING CERTIFIED AS A MINORITY BUSINESS ENTERPRISE (MBE)

Icon becomes the largest U.S. parking and transportation services company to gain MBE certification.

New York – July 26, 2023 – Icon Parking, the largest minority-owned parking and transportation services company in the U.S., has been certified as a Minority Business Enterprise (MBE) by the New York & New Jersey Minority Supplier Development Council (NYNJMSDC). This makes Icon the largest parking and transportation services company in the country to secure the official certified MBE designation.

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“It is an honor for Icon to be awarded this designation,” said Icon Chairman& CEO John D. Smith, who in April led a management buyout of the company with Arkview Capital, a leading minority-certified private equity fund focused on investing in minority business enterprises.

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“We have demonstrated that we’re a formidable competitor commanding the largest market share in arguably the toughest parking market in the country and one of the most competitive in the world,” Smith added.  “This certification will create access and opportunity with large national clients seeking to partner with a strong operator like Icon as we aspire to grow nationally.”

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Smith has said the company is looking for expansion opportunities into top gateway cities, such as Atlanta, Boston, Chicago, Dallas, Los Angeles, Miami, San Francisco, and Washington D.C. Icon, in existence for 76 years, has nearly 200 locations in New York City.

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MBE certification gives companies exclusive access to top corporate purchasing agents, premium networking events, affordable consulting services, technology programs, and vital introductions to nationally known corporations. Through the NYNJMSDC, Icon will also have access to a national database of certified MBEs utilized by over 3,000 corporations nationwide.

“This is a significant milestone for Icon which employs a diverse workforce that is 1,100 team members strong, representing over 30 countries with 95%from underrepresented communities. We’re excited about the opportunities for an MBE to have impact on a massive scale,” said Vijay Mehta, Co-Founder of Arkview Capital.

About Icon Parking

Founded in 1947, Icon is the largest minority-owned parking management and transportation services provider in the nation with almost 200 locations. Icon leverages its customer centric and advanced analytics platform to provide parking management and related services to clients through extraordinary, engaged team members across, commercial office and residential buildings, healthcare, hospitality, sport and entertainment venues, higher education, and government. Icon’s mission is to simplify city life, one customer at a time by connecting them to where they live, work, and play; and believes, “Parking is just the start!” For more information, please go to www.iconparking.com.

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About Arkview Capital

Arkview Capital is a minority-certified private equity fund focused on investing in diversity-oriented businesses. As a Minority Business Enterprise (“MBE”) certified by the NMSDC, Arkview believes that companies aligned with their diverse customer base will outperform long-term. Arkview provides capital to businesses serving diverse communities, partners with diverse founders, and promotes diversity within procurement and supply chains of leading Fortune 1000 companies

Icon Parking Acquired by President/CEO
John D. Smith and Arkview Capital

Creates one of the largest minority-owned parking and mobility service providers in the U.S.

New ownership team seeks to deploy largest EV charging infrastructure in NYC, expand Icon nationally, and evolve its breadth of services to a fully integrated facilities service provider.

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New York – April 4, 2023 – Icon Parking announced today a management buyout, led by its 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. As a minority owned business, Icon will seek to expand nationally, growing its existing footprint of nearly 200 locations in the New York City metropolitan area, New Jersey, and Boston.

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“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, who has led Icon since January 2020. “When you combine our leadership talent, operating scale, and capabilities with minority ownership, it affords us access and opportunity to harness this tremendous growth opportunity.”

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Under the new ownership, Icon will accelerate its commitment to EV infrastructure and add up to 2,000 EV charging units across its portfolio of nearly 200 garages. The company will also look for expansion opportunities into other top gateway cities, such as Atlanta, Boston, Chicago, Dallas, Los Angeles, Miami, San Francisco, and Washington D.C.

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“John and his team have transformed Icon, disrupting the parking industry with an unsurpassed customer experience, and unique digital and analytics capabilities, creating the perfect platformto scale nationally,” said Joon Chang, a Co-founder of Arkview Capital, an MBE certified fund. “Under John’s stewardship we are excited to invest in Icon’s growth, as they are poised to capitalize on new revenue opportunities nationwide.”

“When you combine our leadership talent, operating scale, and capabilities with minority ownership, it affords us access and opportunity to harness this tremendous growth opportunity.”

“We’re thrilled to have an equity partner in Arkview that not only shares our vision of scaling nationally as a minority-owned business but has an established track record of working with management teams for long-term success and significant value creation,” said Smith.

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“I am excited to see private equity capital supporting an impressive management team to create one of the largest minority-owned parking operators and to help them execute on an ambitious business plan,” stated Joset Wright-Lacy, former President of the National Minority Supplier Development Council (“NMSDC”) and advisor to Arkview. “The acquisition of Icon is a prominent example of how minority-owned businesses can access capital and help corporations to increase their use of and spend with diverse suppliers.”

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Genesis Bank facilitated the transaction. Greenberg Traurig served as legal counsel to Arkview Capital and Davis Polk served as legal counsel to the sellers.

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About Icon Parking

Founded in 1947, Icon is the largest minority owned parking management and mobility services provider in New York City metro and one of the largest in the nation with almost 200 locations. Icon leverages its digital and advanced analytics platform to provide parking operations, management, and related services to clients through extraordinarily engaged team members across Commercial Office Buildings and Real Estate, Food and Beverage, Municipalities, Sports and Entertainment, Retail, and Healthcare, that result in exceptional customer, resident, and tenant experiences. Icon’s mission is to simplify city life, one customer at a time by connecting them to where they live, work, and play; and believes, “Parking is just the start!” For more information, please go to www.iconparking.com.

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About Arkview Capital

Arkview Capital is a minority-certified private equity fund focused on investing in diversity-oriented businesses. As a Minority Business Enterprise (“MBE”) certified by the NMSDC, Arkview believes that companies aligned with their diverse customer base will outperform long-term. Arkview provides capital to businesses serving diverse communities, partners with diverse founders, and promotes diversity within procurement and supply chains of leading Fortune 1000 companies.