Operations

LCT Lines Up Company Mergers Session At Summit

Time To Merge? Acquire? Exit? New BostonCoach CEO Scott Solombrino will speak on limo industry consolidation trends during a panel appearance on May 20, 2014 during the LCT Leadership Summit in Miami Beach.
Time To Merge? Acquire? Exit? New BostonCoach CEO Scott Solombrino will speak on limo industry consolidation trends during a panel appearance on May 20, 2014 during the LCT Leadership Summit in Miami Beach.

MIAMI BEACH, Fla. — As stated in the 2014 State of the Industry Address at the International LCT Show in February, industry-wide consolidation among limousine operations is imminent. The corporate travel market is bracing for mergers among ground transportation companies, which they believe will drive up rates on chauffeured vehicle services.

LCT Publisher Sara Eastwood-McLean will lead a discussion at the 2014 LCT Leadership Summit about this major industry trend and how operators and vendors should prepare for the projected wave of mergers and acquisitions.

The panel — which includes Vince Wolfington, former CEO of Carey International and an industry strategist on mergers, Ron Sorci, CFO of Miami-based Aventura Worldwide whose background includes spear-heading a major industry roll up in the 1990s, and Scott Solombrino, who brokered the recent merger of DavEl and BostonCoach — has the industry buzzing with questions.

LCT related article: Summit Hosts All-Star Consolidation Panel

These critical insights will only be available to attendees of the LCT Leadership Summit, which is limited to 150 people. The Summit is about 75% sold out as of today. REGISTRATION HERE. The panel will be held Tuesday, May 20 at the Eden Roc Hotel, site of the three-day Summit from May 18-20.

Covered in this in-depth discussion are these key factors all serious minded owners must know in order to be prepared for the coming changes:

  • What is the motivation on buying or selling a company?
  • Why do you buy a company as opposed to opening your own office in a particular city?
  • Why do you buy a company in your own base city?
  • What are the main points you are looking for in an acquisition? (This can also tell operators how to prepare their company for acquisition and to receive the highest value as a seller)
  • Do you use a broker or go direct and why?
  • As a buyer, what do you use as formula to value the proposed company you are considering acquiring?
  • How do you handle the employees of an acquired company?
  • When and how do you integrate/place your management team into the new company?
  • What is the expected transition period?
  • How long will you keep current management and what contracts do you make with employees?
  • Do you keep the owner for a period of time to continue running the acquired company?
  • What are the advantages of acquiring a profitable company vs a not profitable company?
  • Do change the names our keep the acquired company name?
  • How do you rebrand an acquired company with clients?
  • Are you just buying client lists?
  • Are you buying equipment?
  • When is the optimum time for acquisition?
  • What are the pitfalls?  What can go wrong?

Source: LCT

View comments or post a comment on this story. (0 Comments)

More News

LiQMeng Pampers The Seating Plan

WebXclusive: The Taiwanese company provides upfit kits that will turn a regular ride into a luxurious experience.

All In A Day's Driving For Uber

TNC Travesties of the Week: Exploiting law loopholes, treating drivers like work machines, and more sexual assaults.

Tragic Accident Illustrates Need For Party Bus Rules

Analysis: Don’t let your client's night around the city turn into a horrific event. 

Tradition Trumps Hip For Luxury Brand Love

Many companies turn to storytelling to differentiate their products, however authenticity is crucial.

In A Troubled World, Remember Why People Travel

In pursuit of the foreign, we’re often shown by comparison how much of it we have here at home.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - December 2016 $12.95 GLOBAL/INTERNATIONAL ISSUE COVER STORY: * The Coolest Operators on the Planet * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close