The Beringer Group, an independent business advisory firm, is pleased to announce that our client, PAVE Mobility, has completed a corporate reorganization and capital raise to fund growth and position the company for future expansion. The Beringer Group acted as exclusive financial advisor in the transaction.
“It was inspiring to work with such a talented group of people,” said Brad Williams, Managing Director of the Beringer Group. “I am extremely proud of the team that is remaining with PAVE Mobility.”
The management team at PAVE will continue to be led by Fred Bredemeyer as CEO and Ben Hoffman as CTO. PAVE’s finance, accounting, and administrative departments will be led by Tom Hurlbut, the former CFO of Pioneer Lines, Inc., and the former controller and interim CFO of Norfolk Southern.
The transaction was coordinated by US Infravest Managers L.P. (“USIV”), an independent asset manager which specializes in tactical and opportunistic infrastructure investments in the lower middle market.
PAVE Mobility is a parking-enforcement solutions provider that offers powerful and user-friendly tools to simplify parking operations. PAVE makes frictionless parking a reality with industry-leading parking technology, including a digital parking management system employing License Plate Recognition (LPR) and integrations in more than 450 locations throughout the U.S.
With its new structure, capital and ownership base, PAVE will further develop its reporting and customer service capabilities and continue to refine its best-in-class enforcement with continuing advances in business intelligence, R&D and client success initiatives.
For more information on PAVE and this transaction, click here.