LOS ANGELES, Aug. 8, 2008 (PRIME NEWSWIRE) -- The L&R Group of Companies, ("L&R") headquartered in Los Angeles, California, today announced its hire of Gary Gower as its new Chief Financial Officer. Gary brings over 20 years of financial experience in the parking industry to L&R. In his new role, Gary will be responsible for overseeing the financial operations of L&R's five divisions: Five Star Parking; WallyPark; Joe's Auto Parks; System Parking and Network Parking. At L&R, Gary will oversee all of the accounting, auditing, payroll, financing, and reporting functions. Prior to joining L&R, Gary was Director of Fleet Services (Treasury) for ABM Industries and Vice President & Assistant Secretary for Ampco System Parking. Gary also has served as Ampco's Controller, Chief Financial Officer and Vice President/Regional Manager of the Southern California region. Prior to his tenure at ABM, Gary was a Senior Property Manager at Cushman and Wakefield and he worked at the Atlantic Richfield Company, where he had numerous financial roles including oversight of a major real estate subsidiary. Gary brings extensive expertise in mergers and acquisitions, public and private financings, and corporate governance and regulatory compliance issues. Gower has a Bachelor of Business Administration (BBA) with an Accounting Major, from the University of Washington, as well as post-graduate studies with Peter Drucker.
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"We are fortunate to have someone of Gary's caliber and expertise join our dynamic team," said Chief Executive Officer David Damus. "His knowledge of the industry and keen financial acumen will undoubtedly be an asset in L&R's continued growth."
About The L&R Group of Companies
L&R, headquartered in Los Angeles, California, is a privately held, well-capitalized organization that operates five distinct parking divisions: Five Star Parking, WallyPark, Joe's Auto Parks, System Parking, Inc., and Network Parking. Five Star Parking is one of the largest and most successful parking operators in the United States, with a proven track record of success and experience across the whole spectrum of parking operations. From surface lots to commercial parking structures to major international airports, including the single largest parking contract in the United States, where it is responsible for approximately $225 million in annual revenue for the Port of New York and New Jersey. Five Star Parking takes an "ownership" approach to operations designed to maximize revenue, lower overhead and achieve enhanced customer loyalty.
WallyPark is one of the largest national off-airport parking companies located in five states and provides travelers with a unique level of customer service. Travelers are pampered with a higher level of airport parking services which extends beyond secure, convenient facilities and 24-hour shuttles to include free amenities, special member programs and exclusive car care services in select locations.
Since 1920, System Parking has specialized in providing customers and clients with tailored parking solutions, and is one of the premiere parking companies in the United States, with approximately 244 locations in 7 states and 14 cities. System Parking Inc. designs customized, cost-effective parking solutions and specializes in a number of different parking venues consisting of hotels, hospitals, surface lots, condominium and residential properties, office buildings, and parking enforcement services.
For over 50 years, Joe's Auto Parks has been one of the largest parking operators in Los Angeles, with more than 85 downtown locations, each strategically located in and around some of Los Angeles' most well known high density attractions and destinations.
Network Parking, headquartered in Cleveland, Ohio is a nationwide parking company with experience in the management and operation of office building, mixed-use, retail, residential, airport and hotel parking facilities. The company was founded by Joel Cole in 1994, a true parking pioneer who has made countless contributions to the parking industry and its business practices. Network Parking provides clients with an array of consulting services including layout, equipment and operations for valet, shuttles, validation programs, cashier services and car wash services. Network Parking's experience provides a unique understanding of client's goals, with the ability to provide added-value to their real estate portfolios.
L&R now operates in 33 cities spanning 20 states from coast to coast with approximately 5,500 employees and has grown into one of the largest parking property owners in the nation.
For additional information on the L&R Group of Companies and its divisions, please visit www.tlrgc.com.
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