Operations

LIMO DEAL: Nashville Operator Sells Arkansas Division

Posted on February 3, 2010 by LCT Staff - Also by this author - About the author

LITTLE ROCK, Ark. — One of Tennessee’s top chauffeured transportation operators has sold his division in Arkansas’ capital city, about a year after opening for business there.

Bill Faeth, owner and CEO of Silver Oak Transportation, sold the operation to David Bratton of Argenta Transportation Specialists of Little Rock on Feb. 1 for an undisclosed amount. The asset acquisition buys relationships with affiliates, Little Rock client base, and extensive training and technology. Faeth and Argenta CEO David Bratton disclosed the deal to LCT at the International LCT Show in Las Vegas last week.

Faeth said his Little Rock operation started losing money because of the recession soon after he started it in December 2008. “It was also too far away, so it made more sense to focus on Nashville,” said Faeth, who often had to commute the 327-mile distance each way between the two capital cities. “We felt that it would be in the best interest of Silver Oak Transportation to refocus on our local clientele in Nashville.”

Argenta, which serves the Little Rock metro area and surrounding central Arkansas, has a five-vehicle fleet that consists of a Cadillac DTS-L, a Lincoln Town Car Executive L, a Cadillac Escalade ESV, an 8-passenger DaBryan Cadillac stretch limousine, and an 18-pack stretch Cadillac Escalade.

Bratton, who is also a sergeant with the Little Rock Police Department, previously owned Paradise Carriages Limousine of Little Rock, which he started in 2007 and ran until being hired as the Silver Oak manager in late 2008. Bratton said Argenta’s client mix will consist of about 60% corporate and 40% retail.

Faeth started Silver Oak Transportation in 2006 and operates a fleet of 21 vehicles.

Source: Martin Romjue, LCT Magazine

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

More News

Chauffeur Retention Made Easy: Show You Care

WEB-X-CLUSIVE: The key to happy employees is understanding what they mean to you and your business.

California Operations Combine To Span Regions

Classique Limousines Worldwide in Orange County buys Showcase Limousines based in the Inland Empire.

Renault Purchases Tech Startup Karhoo

The taxi comparison app has found new life with the French carmaker.

Lincoln Ends 2016 With 10% Sales Increase In U.S.

The increase comes against a luxury market that saw gains of less than 1%.

Houston Operations Merge To Form Big Regional Service

Avanti Transportation and A Ambassador Transportation combine complementary vehicles, markets, and clients into 135-vehicle fleet.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - January 2017 $12.95 THE MONEY ISSUE COVER STORY: * Dashboard Helps Steer Company Finances * *



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