ICON PARKING CERTIFIED AS A MINORITY BUSINESS ENTERPRISE (MBE)

July 2023 --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.

“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.

“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.”

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.

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.