Time for Mergers & Acquisitions

LCT Magazine
Posted on February 13, 2009
BUYING & SELLING: East Coast Transportation of North Florida just bought Executive Transportation & Tours, LLC of Jacksonville, a competitor that brought in $1.5 million in 2008 revenue. LCT has been hearing about and covering M&A transactions lately (including Sterling Rose Limousine in Temecula, Calif., buying other operations). Charles Tenney & Associates has been staying busy putting M&A deals together around the country, according to Tenney. As revenue drops dramatically and debts increase, operators generally have to make such deals to avoid going out of business. And sometimes they're done working 24-7 and appreciate the opportunity to become part of a competitor's organization. We expect to hear more stories like this one throughout the year.  -- J.L.

Related Topics: Fleet Vehicles, Sales & Marketing

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