Mike Drow named Parking Revenue Recovery Services President and CEO

DENVER, Jan. 24, 2022 /PRNewswire/ -- Parking Revenue Recovery Services (PRRS), Inc., a leader in parking enforcement and revenue collections services, today named Michael Drow as its new President and CEO effective February 1, 2022. Mr. Drow is recognized as a proven leader in the parking industry having built several technology-based solutions and service operations during his 15 years in the industry.

Drow joins PRRS with expertise and industry perspective. Having worked at T2 Systems, a leading provider of parking and mobility technology solutions, he served as Senior Vice President Sales and Corporate Development. Prior to that, he worked at SP Plus Corporation supporting parking management operations and directly responsible for the development and growth of several innovative technology business units such as remote management and mobile parking payment platforms.

PRRS' unique parking enforcement and collection service—a service that is legally compliant and a financial asset to owners and operators—combined with Drow's experience in parking technology and leadership, will enable PRRS to expand its services across North America.

"Mike has a track record of driving innovation through introducing and growing new technology- based services. As the necessity for agile service providers to meet clients' current and future needs increases in importance, Mike's industry experience combined with his respected leadership and desire to collaborate with customers and partners makes him the right fit to lead PRRS's growth. We're thrilled to have Mike leading the business," said Gabor Burchner, PRRS Board of Director.

PPRS and Asura brought ARC and ARC360 systems to the market to support PRRS enforcement services. This parking enforcement services already active on over 100 parking sites across five

U.S. cities. With the recent investment by GB & Partners, it will soon expand to hundreds of North American parking operations, making PRRS with ARC the critical player in parking revenue collection and enforcement management services.

"I am very excited to join PRRS and deliver value added services to our parking operating partners, making them more successful," said Mr Drow. "During my career, I've challenged the status quo. I've championed the delivery of innovative solutions and services in a quickly changing industry. PRRS has been an innovator in the use of technology to deliver their services, and with the recent investment by GB & Partners, we can deliver more value to the parking industry. I cannot be more thrilled to have the opportunity to collaborate with the PRRS team, and our existing and future customers, to continue to challenge norms and deliver innovative enforcement and collection services."

About Parking Revenue Recovery Services

Parking Revenue Recovery Services, Inc. (PRRS) is the leading Parking Enforcement and Collection Services provider in North America. PRRS provides customized enforcement and collection programs designed to increase revenue while eliminating expenses. PRRS creates exceptional value for clients, municipalities, universities, and other entities by (1) increasing overall customer compliance while delivering exceptional customer service; and (2) maximizing enforcement and collections revenue.

About Asura Technologies

Asura Technologies develops future generation video analytics systems and license plate recognition software, using AI to create smart parking, traffic management, and general security and safety applications. The company is active around the globe building software solutions for its partners in North America, the GCC region, Europe, and Asia. Asura has been present in the

U.S. since 2018. Asura Technologies USA partnered with PRRS to offer uniquely effective, automatized parking enforcement solutions by implementing its innovative technology.

About G&B Partners

G&B Partners is an independent private equity and venture capital fund management firm that specializes in smart city technologies, fashion, fintech, medical technologies and mechanical engineering. As the largest Hungarian-based firm of its kind based on assets, the management boasts a wide range of leadership experience in the fields of PE and venture capital investments/divestitures, M&A transactions, and IPOs, and provides close operational support to investment entities, according to international industry standards.

G&B Partners was granted a total membership of invest Europe in 2019, thus becoming the first Hungarian venture capital firm to receive that honor.

Contact:
John D. Conway
Co-Founder Chief Business Development Officer [email protected]
720-363-5638

SOURCE Parking Revenue Recovery Services, Inc.