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[UPDATED 3/19 at 1:30 p.m. ET]
From Boston Globe:
Dav El Chauffeured Transportation will relocate about two miles to BostonCoach’s headquarters in Everett, Mass., the Boston Globe reported in its Business section Wednesday. Scott Solombrino, Dav El’s owner, will become CEO of the combined companies. He confirmed that the two executives who formerly ran the Marcous' limousine business — Russell Cooke and Bill Gemmell — had left the company. Cooke and Gemmell had helped build BostonCoach for Fidelity in its early days; the deal was hailed last May as a chance for them to again run the company. Cooke declined to comment Tuesday. Gemmell could not be reached.
David and Derek Marcou, owners of the company, were not available to comment on Cooke’s and Gemmell’s departures. Solombrino said, “We certainly wish them nothing but the best.’’
Vincent Wolfington, the former chairman of Carey International, a large Washington, D.C., chauffeured service company, said Cooke’s and Gemmell’s departures were likely the result of a culture clash with the Marcou brothers, who come from more of a taxi-black car orientation.
Boston Globe article here.
[LCT Magazine is awaiting an interview/comments from Solombrino and will provide updates when available].
Resume previous coverage from 3/18/14]:
BOSTON -- The new Dav El Harrison Global chauffeured transportation powerhouse will seek more acquisitions as the two companies pursue a strategy to consolidate the highly fragmented chauffeured transportation business, Business Travel News reported late Tuesday.
Dav El CEO and owner Scott Solombrino, now the president and CEO of Marcou Transportation Group's Premium Chauffeured Transportation Platform, told the publication that each brand would maintain its own identity but tie together technology, reservations and sales functions.
In addition to expanding in the chauffeured transportation space, Solombrino also sees growth opportunities in the destination management segment. Also picked up by Marcou as part of the BostonCoach deal, the Best of Boston destination management company serves as a model. Solombrino expects further moves—acquisitive and organic—in the DMC business.
"We love the ability to be able to cross-sell," said Solombrino of the synergies between the DMC business and the chauffeured space, adding that he was "amazed at how well that fit into the plan for our global expansion. Watch us in that space as well."
Meanwhile, the group plans to launch "very soon" an Uber-like on-demand chauffeured services mobile application, said Solombrino, who said there is tremendous unfulfilled corporate demand for such functionality.
Solombrino said the combined sales forces are being integrated and the brands already are jointly fielding corporate requests for proposals. The combination of brands "gives us tremendous critical mass, tremendous depth and a huge amount of penetration on a percentage basis into the Fortune 1,000," he said.
BOSTON — Marcou Transportation Group’s addition of the Dav El Chauffeured Transportation Network brand to its existing premium brands will result in a powerhouse that will serve a network of 550 cities worldwide.
Marcou Transportation Group’s premium chauffeured transportation platform will have more than 3,000 employees, operate 1,700 company-owned vehicles and generate revenue in excess of $250 million per year.
Marcou Transportation Group currently owns and operates the BostonCoach, Harrison Global and Regal Limousine brands. The addition of the Dav El brand will solidify Marcou Transportation Group’s position as the premier provider of premium chauffeured transportation services in the U.S.
“We are very excited to expand Marcou Transportation Group’s operating platform through the addition of the Dav El brand into Marcou Transportation Group’s family of premium transportation brands,” says David H. Marcou Jr., CEO of Marcou Transportation Group. “We are also thrilled to welcome Scott Solombrino on board to lead our premium chauffeured transportation platform as president and CEO. The addition of the Dav El brand, one of the top premium brands in the country, to our existing brands is a great way to expand the tradition of top-notch service to more clients across the United States and around the globe.”
“Many of the world's business and government leaders, sports figures and celebrities trust Dav El and BostonCoach for their chauffeured transportation needs,”says Scott Solombrino, president and CEO of Dav El. “We are the wheels of corporate America and our main focus is continuing to provide the most elite chauffeured transportation service on the planet.”
Solombrino entered the limousine business in 1978 as a driver, reservations agent and mechanic. As a college freshman in Boston struggling to earn tuition money, he bought a 10-year-old Cadillac limousine for $600, gave it a fresh coat of paint and founded Fifth Avenue Limousine. In 1987, he acquired then New York-based Dav El from its founder, relocated the company to a new state-of-the-art facility near Boston and has made Dav El one of the premier executive ground transportation companies in the world. In January 2000, Solombrino was named one of the 25 most influential executives in business travel, to lead the industry into the new millennium, by Business Travel News. Co-founder and four-time president of the National Limousine Association, Solombrino currently serves on the board of directors.
Additionally, he is serving his sixth term as a member on the Global Business Travel Association’s board, and is president of its Allied Leadership Council.
Marcou Transportation Group was started by the Marcou brothers, David and Derek, in 1986 and has flourished through a program of organic growth and acquisitions. In addition to its extensive holdings in the premium chauffeured transportation market, Marcou Transportation Group also operates para-transit transportation, school transportation and taxi transportation companies in multiple states.
The expanded platform will operate company-owned locations in New Hampshire, Massachusetts, New York, New Jersey, Pennsylvania, Maryland, Virginia, North Carolina, Florida, Illinois, California, and District of Columbia. It is the largest deal ever in the premium chauffeured transportation industry.
Source: Boston HeraldOnline.com based on press release
LCT related article: Exclusive August 2013 Interview With Scott Solombrino
Related Topics: Bill Gemmell, Boston operators, BostonCoach, business deals, Dav El Chauffeured Transportation, executive changes, Massachusetts operators, mergers & acquisitions, New England operators, Russ Cooke, Scott Solombrino
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