BOSTON — Harrison Global announced Wednesday it just merged with TCI Worldwide Services, a chauffeured sedan service based in the greater Boston area, as of Feb. 3.
The transaction marks the fourth deal Harrison Global has completed in the past 18 months through The Tenney Group, a national Arlington, Texas-based transportation brokerage run by fathers-son brokers Charles and Spencer Tenney. Financial terms of the deal and the size of the transaction were not disclosed. The TCI brand will ultimately be absorbed into the Harrison Global brand after a transition period for our clients.
Derek Marcou, co-owner of Harrison Global with his brother David, said in a statement released today: “TCI Worldwide is a great company with an excellent client reputation. What makes this transaction dynamic for Harrison Global is the addition of one of the most experienced management teams in the history of the chauffeured transportation industry. This transaction will be pivotal in realizing Harrison Global’s growth initiatives.”
The management team Marcou welcomes to Harrison includes industry veterans Russ Cooke and Bill Gemmell, two seasoned professionals who collectively represent 50 years of industry management expertise while leading some of largest chauffeured transportation companies in the world. Cooke and Gemmell helped create and grow BostonCoach Corp., a Fidelity Investments company into a global transportation leader.
Russ Cooke and Bill Gemmell retained, in December 2011 to give them the ability to accomplish three things:
- Complete a strategic merge/sale transaction
- To secure partnerships with the new company
- Structure a deal that would allow Cooke and Gemmell to employ their business development vision and participate in the upside of the new company.
“This is a wonderful example of two parties seeing a vision and both being willing to be creative and flexible to accomplish the greater goals in an economy that is offering explosive opportunity for the right combination of talent and resources,” Derek Marcou said.
Through previous acquisitions, Harrison Global has established operations centered in Vienna, Va.. near Washington, D.C. and in Raleigh-Durham, N.C.
Harrison Global, also as strong user of green and smart transportation initiatives, has over 130 executive transportation vehicles in service and continues its business development and acquisition efforts across the eastern U.S. The company is one of three finalists this year in the 51-plus category of the 2012 LCT Operator of the Year Awards.
Related LCT articles: Harrison Global Integrates Smaller Boston-Area Operation; Harrison Global Buys Baltimore Operator
Source: Harrison Global