EULESS, TX — Roadrunner Charters, Inc. acquired Eagle Trailways, a 30-year-old premium bus service in Irving, Texas, as of Sept. 10.
“Eagle Trailways has an excellent reputation across the state of Texas,” said Ron Wills, owner of Roadrunner Charters, based in Euless, Texas. “When I was approached about working out a possible deal, I was immediately interested. This transaction is an important strategic piece to our overall growth plans in the region.”
Eagle Trailways was founded by Gene Shields more than 30 years ago. Wills learned the motorcoach industry working for Gene Shields at Eagle Tours many years ago.
At the time of the sale, Eagle Trailways was operating 14 charter buses. When Shields passed away in 2011, his wife and daughter, Sharon Shields and Jennifer Sutton, took responsibility for the future of the business. After continuing operating the business for a year, the family determined it was time to pass the torch to another party.
The Shields family retained The Tenney Group, a firm that specializes in transportation business sales exclusively across the U.S., in late March 2012 to handle the sale.
From the date of hiring The Tenney Group up to the day of closing, the total transaction time took 160 days. The terms of the deal and the size of the transaction are not disclosed.
“Great deals take place when everybody wins,” said Charles Tenney, senior managing partner of The Tenney Group. “In this situation, Roadrunner adds significant sales and efficiencies to their operation. The Shields family transitions to the next chapter of life feeling financially rewarded and emotionally relievedknowing the family business is in good hands with Ron and his team.”
Roadrunner Charters, whose list of clients already includes such companies All State, Dallas Stars, and American Eagle, expects to grow organically and through other acquisitions as opportunities arise in the South.
Information on Roadrunner Charters: www.roadrunnercompanies; (817) 355-9474.
Information on The Tenney Group: www.thetenneygroup.com; (877) 642-8033.
Source: The Tenney Group