BusBank's acquisition of Buster expands the range of meetings, events, and group motorcoach and minibus business, especially for smaller fleet companies.
LITTLE ROCK, Ark. — One of Tennessee’s top chauffeured transportation operators has sold his division in Arkansas’ capital city, about a year after opening for business there.
Bill Faeth, owner and CEO of Silver Oak Transportation, sold the operation to David Bratton of Argenta Transportation Specialists of Little Rock on Feb. 1 for an undisclosed amount. The asset acquisition buys relationships with affiliates, Little Rock client base, and extensive training and technology. Faeth and Argenta CEO David Bratton disclosed the deal to LCT at the International LCT Show in Las Vegas last week.
Faeth said his Little Rock operation started losing money because of the recession soon after he started it in December 2008. “It was also too far away, so it made more sense to focus on Nashville,” said Faeth, who often had to commute the 327-mile distance each way between the two capital cities. “We felt that it would be in the best interest of Silver Oak Transportation to refocus on our local clientele in Nashville.”
Argenta, which serves the Little Rock metro area and surrounding central Arkansas, has a five-vehicle fleet that consists of a Cadillac DTS-L, a Lincoln Town Car Executive L, a Cadillac Escalade ESV, an 8-passenger DaBryan Cadillac stretch limousine, and an 18-pack stretch Cadillac Escalade.
Bratton, who is also a sergeant with the Little Rock Police Department, previously owned Paradise Carriages Limousine of Little Rock, which he started in 2007 and ran until being hired as the Silver Oak manager in late 2008. Bratton said Argenta’s client mix will consist of about 60% corporate and 40% retail.
Faeth started Silver Oak Transportation in 2006 and operates a fleet of 21 vehicles.
Source: Martin Romjue, LCT Magazine
More space and favorable operating costs are two factors driving the move toward more spacious vehicles.
The industry vet will be working with the UrbanBCN team to advance a presence in the Los Angeles market.
eNews Exclusive: Christina Zanone knows what she does is making a difference not only in her life, but her clients’ as well.
To find the most driver-friendly places in the U.S., WalletHub compared the 100 largest cities across 29 key metrics.
Lenore D'Anzieri of Dav El | BostonCoach will present the best ways to meet the needs of modern business travelers.
Archived article update: The pricing data has gained accuracy over the decades but certain approaches still stand true.
eNews Exclusive: Susy Paris is widely known throughout the luxury transportation community, but few know how she got to be where she is today.
Skedaddle is like Groupon for buses, allowing riders to book long-distance trips via an app.
A Los Angeles operator explains why your luxury ground transportation must match the elite standards of private jets.
JULY LCT: Understanding fixed and variable costs is key to deciding whether or not a motorcoach will be profitable.
JULY LCT: Two Summit speakers explained why personal connections are crucial to winning over customers with your marketing.
These evergreen articles resonate with operators across the years and cover some of the most vital industry topics.
Cabin is designed to let its customers sleep through the trip from Los Angeles to San Francisco and back.
The entrepreneur-owner finds steady business in good and bad economic times.
The world's No. 1 online marketplace and trader for professional chauffeured and chartered vehicles, including all types of motorcoaches, buses, vans, stretch limousines, sedans, SUVs, exotics, and classics. New and used vehicles are available from sellers across the nation.
The best online networker to find quality affiliates worldwide and market your company.
Click on any state to see the latest industry news and events in that region.