Pinned straw:
I have been keeping an eye on their key staff members (well, those I could actually ID) following the acquisition -- particularly interested in if their key leadership roles hang around and what their churn is in the months following the acquisition.
I started this list in Feb 2025. Of the 18 members identified, 5 have departed. I don't think this is alarming, but worth keeping an eye on. Had they lost more than half their members, including critical personnel, we might have had a problem. As it stands, things look good. The main good news is their two most senior roles remain (including their founder, Will) remain at the helm.
- Will Spielhagen – Founder/President (year started: 2019)
- Evan Adams – Director of Operations (2021)
- Brandy Henry – Accounting Controller (2021)
- Kerry Loomis – VP Sales (2022)
- Tiago Cunha – Regional VP (2023) but at previous parking company for 13 years. Departed in March 2025, but still commenting on former Peak Parking colleague posts -- suggesting to me they are unlikely to have left on bad terms.
- Jeff Girgenti – Market Vice President (2022)
- Regional Manager – Joe Camarata (2025), but previous parking experience for two decades – Departed in March 2025, only in job 2 months, to open new a new business.
- Rachel Corbell – Account Manager
- Julia Carruthers – Business Operations Lead
- Alex Badillo – Senior Operations Manager - departed in Jan 2025, new role
- Raul Luna – Operations Manager
- Grant Sitomer – Operations Manager - departed in March 2025, relocated to a new city and remains on the job hunt according to Linkedin.
- Matthew Garcia – Account Manager
- Morgan Copeland – General Manager (2023) – promoted recently to General Manager (ex Area Manager)
- Maria Fernanda Ortiz Torres – Account Manager (2022)
- Marcus Alfred – Operations Manager (Nov 2024)
- Fred Kelley – Independent Broker (2023) – 2024 interview here for those interested. He owns his own business in the Texas area too (Broker Owner)
- Julia Godlewski – Business Ops Lead (2023) – departed Jan 2025
Looking forward to getting further insight in the annual report.
@GazD I would have loved a more tangible update on Peak's 2025 YTD given we are more than a third of the way through the year, but commentary that it is "on track" against the investment case and integration "progressing well" will have to suffice. Confirmation that the first 15 sites are converting to ANPR is a positive though, and quicker than I expected.
For the rest of the business, new sites accelerating on the first half from ~25 per month to ~29 per month second half so far, and Germany looks like it will finally get through breakeven with strong growth and 25 Burger King spots to open before end of financial year.
8% reduction in UK PBN values since the new Code of Practice is a bit higher than I expected is the only knock but if it's the price to pay for longer term policy certainty in the UK I am happy with that!
@Wini totally agree your comment about the UK.
It is a small price to pay if it makes the UK operation sustainable. If fact, given the potential for a public backlash, at any time, for the industry to be able to say: "look, we've adopted a voluntary code of conduct, and as a result we've actually reduced our average PBN values" at a time when consumer sentiment is generally in the toilet, and the Labour Government now well and truly past its "honeymoon period" and with Reform having made major inroads in the recent local council elections ... it just makes me able to sleep better at night on this one, knowing that the industry has at least a first pass defence to any potential for regulatory intervention.
Or put another way, if UK average PBN values were increasing, in the current environment, I'd be worried the Labour Government might make some gesture on "dodgey car park operators to show that it really can stick up for 'Working People' ".
Otherwise, from my perspective, it is an OK update. Peak Parking only closed 2.5 months ago. So, I'd not expect to have heard much. And, as you say, to have 15 sites commited to ANPR conversion is pretty good actually.
Steady as she goes!
