Operations

Growing South Florida Operation Buys Miami Company

Posted on November 29, 2011

FT. LAUDERDALE, Fla. — Coastal Car Worldwide closed a deal last month to buy the assets of Miami-based Red Limo, a five-year-old, six-vehicle company owned by operator Austin Cohen.

The deal includes the business lists, vehicle permits, phone lines and database of Red Limo. Cohen now works for Coastal in a business development capacity. Exact terms of the deal and Coastal Car annual revenue figures were not disclosed.

“We increased our Miami-Dade footprint with this asset purchase and have built a good database of clients,” said Evan Michaels, CEO of Coastal Car.

Red Limo was known for its distinct white fleet vehicles, including a 7-series BMW and Cadillac Escalade. The company was a finalist in the 1-10 vehicles category of the 2011 LCT Operator of the Year Awards.

Michaels said the deal came about because Cohen wanted to transition from an operational role. Cohen had worked with Coastal in the past and knew one of its owners, J.C. Carey. The two owners had forged a mutual business respect, Michaels said. “Coastal has a strong foundation and a sizable back office with infrastructure, so this was a good fit,” he said.

The acquisition of Red Limo fits into a growth pattern for Coastal Car that has doubled in size over the past two years. The company recently moved into a 17,000 square foot headquarters and vehicle warehouse in Ft. Lauderdale that sits along the main access road to the Ft. Lauderdale International Airport. This allows fleet vehicles “a straight shot to the airport terminals,” Michaels said.

Coastal also operates a smaller facility and parking area near the Miami International Airport. In the next few years, Coastal plans to buy a new Miami satellite facility situated between MIA and South Beach, and a small satellite facility near the Palm Beach International Airport.

Coastal Car Worldwide ranks as one of the largest chauffeured transportation operations in South Florida, with chauffeured service stretching from Palm Beach County through Miami-Dade.

-- Martin Romjue, LCT editor

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

More News

New Online Limo Service Brokerage Offers Discounted Rides

The two-year-old company racks up results and fans as it helps operators fill unused vehicles and seats.

Celebrity Worldwide Launches New Charter Jet Website

Clients of the Philadelphia-based company can book seamless air travel worldwide through an easy, more informative site.

No Way Uber Worth $70 Billion, Investor Says

Meanwhile, the feds have penalized the TNC for misleading consumers on its privacy practices.

Updated Uber For Business Gives Companies More Control

The TNC's refreshed platform will help streamline corporate ride-hail use, especially for unmanaged travel programs.

Dream Team: How One Company Keeps Clients And Staff

eNews Exclusive: Concierge Limousine along California’s Gold Coast knows that without happy, loyal employees, an operation will fall apart.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - August 2017 $12.95 MILLENNIALS/FAST 40 ISSUE COVER STORY: * How to Score & Keep The Best Young Talent * *



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