Reimagined Parking Announces Transformative Changes

Formerly REEF Parking, the Company Introduces Mubadala Capital as New Controlling Shareholder, Key Additions to Senior Management Team, and Corporate Rebranding

NEW YORK, Nov. 20, 2023 /PRNewswire/ - Reimagined Parking, formerly known as REEF Parking, today announced sweeping changes poised to position it for continued growth. Driven by a strategic recapitalization led by Mubadala Capital, the wholly owned asset management subsidiary of Mubadala Investment Company, a $280 billion global sovereign investor headquartered in Abu Dhabi, the moves solidify the company's position as North America's leading parking services provider.

Now steering Reimagined Parking's operations and business development efforts and reaffirming the company's renewed focus on providing exceptional parking services is a team of seasoned veterans with more than 100 years of industry experience among them. Corey Medgyesi serves as Chief Commercial Officer, overseeing North America. Assisting him are Chief Revenue Officers Forrest Friedman and Tarek Moussa, who manage responsibilities for the western and eastern regions of the United States, respectively, and Shawn Collins, who will guide the Impark brand in Canada.

In an effort to energize the company with a fresh perspective, Mubadala Capital also announced key additions to Reimagined Parking's senior management team and welcomed a distinguished member to the company's board of directors:

• Russ Pillar, Chief Executive Officer, brings more than 35 years of senior executive experience leading a host of global consumer brands and businesses including the Virgin Entertainment Group, CBS Internet Group, Viacom Digital Media Group, Prodigy Internet, and the Los Angeles Marathon, among others.
• Marc Weisberg, Head of Strategy and M&A, has more than 30 years of experience creating value through acquisitions, dispositions, strategic alliances, and operations, with a background in investment banking, corporate accounting, and operations.
• Mark Carleton, Reimagined Parking Board of Directors, served as the former Chief Financial Officer and Chief Development Officer at Liberty Media and was a longstanding KPMG partner and board member.

"Mubadala Capital's commitment to Reimagined Parking—financially, operationally, and strategically—will enable us to continue to provide market-driven parking services, prioritizing the needs of our clients and their customers," said Russ Pillar, Reimagined Parking's newly appointed Chief Executive Officer. "I'm confident that our renewed focus on customer service, operational and technological excellence, and employee welfare and training will serve as core foundational elements in our next stage of growth."

Adding to Mr. Pillar's comments, Adib Mattar, Senior Partner and Head of Private Equity at Mubadala Capital, said, "I remain bullish on Reimagined Parking's future and am confident that the addition of Russ Pillar, Marc Weisberg, and Mark Carleton to the team will further accelerate the company's already impressive growth."  

Reimagined Parking and its family of nationally recognized brands – Impark, Lanier, Republic Parking, AmeriPark, and Park One – is the world's leading tech-powered, people-driven parking solutions provider. Our workforce of 8,000 manages 3,400 high-density parking facilities across 500 North American cities, generating more than 34 million digital transactions annually.

Mubadala Capital is the wholly owned asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi, UAE. Mubadala Capital manages $20 billion in aggregate across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors, including four flagship private equity funds, three early-stage venture funds, two funds in Brazil focused on special opportunities and a highly diversified evergreen investment strategy focused on private market opportunities. Mubadala Capital has offices in New York, San Francisco, London, Rio de Janeiro, and Abu Dhabi.

View original content:https://www.prnewswire.com/news-releases/reimagined-parking-announces-transformative-changes-301993669.html

SOURCE Reimagined Parking