George Jacobs, president of American Limousine in Burr Ridge, IL, recently sold his company to Carey International.
Carey International has announced the acquisition of American Limousine, owned by George Jacobs in Burr Ridge, IL.
Carey, the world’s largest provider of chauffeured transportation, has continued its aggressive growth pattern by acquiring the nation’s largest single city limousine service provider. American Limousine reported 1997 sales of approximately $20 million.
The company’s 1997 total of 291 vehicles ranked it third in the nation behind only Carey New York and Bell Transportation of Las Vegas, according to LCTs annual “Top 50” listing.
Upon completion of the American Limousine acquisition, Carey International will have annualized revenues of approximately $150 million Carey has acquired companies in the current fiscal year with revenues of more than $38 million.
Jacobs was LCT Operator of the Year in 1996 (large category). He was also recognized as one of the 10 most significant figures in the industry in both 1993 and 1998.
Jacobs is a six-time president of the National Limousine Association (NLA) His decade-long dispute with the Internal Revenue Service resulted in a victory for American Limousine and the establishment of clear guidelines for limousine companies to establish independent contractor arrangements with their chauffeurs. Carey has announced that Jacobs will spearhead the expansion of operations in the Chicago area, as well as direct efforts in other markets.
“American Limousine is a strategic acquisition for Carey,” says Vince Wolfington, chairman and CEO of Carey. “We have acquired an established brand name and a recognized leader in the industry. With George on our team and American as part of our family of companies, we believe that the prospects for continued growth are significantly enhanced, both in Chicago and around the world.”
“We view this transaction as a win-win for all parties,” says Jacobs, “it’s great for our customers, employees, and the limousine industry. Carey is assembling top players so the company can field the best chauffeur-driven service team in the world. We are excited to be working with this great organization.”