Icon Parking, New York City’s largest parking company, has been acquired by a partnering of The Broe Group, a private investment firm, and Hudson Valley Parking Trust.
Founded in 1947, Icon Parking is the largest minority-owned parking management, operating and mobility services provider in New York City metro area and one of the largest in the nation with almost 200 locations. The financial terms of the deal were not disclosed, nor is it clear if Icon Parking’s management will remain.
“Hudson Valley Parking Trust is the premier parking operator, and we are pleased to invest alongside them in a sector adjacent to our core operating real estate platform,” said The Broe Group’s Chief Investment Officer Carl Peterson. “We look forward to growing our new partnership nationally through organic growth and future acquisitions.”
“Icon Parking is the industry leader in the top parking market, and we are committed to its long-term success,” said Hudson Valley Parking Trust founder Jerry Skillett. “This new partnership adds strategic resources and relationships to fuel sustained growth.”
