Operators venturing into this challenging market work extra hard for some of the best rewards in luxury ground transportation.
ORLANDO — Two luxury transportation companies based in two Florida cities that almost touch each other have combined operations into one business. Signature Transportation Orlando and Olympus Limo in Tampa are now Signature Transportation Florida.
The partnership will create scale allowing the companies to provide better customer experiences tailored to specific clients. It also brings uniformity to both markets and provides the opportunity to leverage resources and expertise to support further growth.
“After seven months of discussion and due diligence, we look forward and are excited to welcome Olympus-talented employees and chauffeurs into our family,” said Gregg Moulton CEO of Signature Transportation Orlando. Moulton will oversee the combined operations. “Using the same model that we created with Signature Transportation Group in Chicago almost two years ago, the new combination of Signature Transportation Florida will share staff, vehicles, chauffeurs and best practices to maximize efficiencies committed to our customer first mentality.”
New premium vehicles are already en route to Tampa, including Grech Motors executive buses, motorcoaches, sedans, and SUVs. Signature Transportation Florida will continue operating out of the facility in Orlando and will combine the two locations in Tampa and New Port Richey for an increased presence in Tampa close proximity to the Tampa International Airport. After acquiring 30 vehicles from Olympus, the combined operation will run a premium diverse fleet of more than 60 vehicles.
"This is an exciting opportunity for our Olympus Family,” said Ted Koutsos CEO of Olympus Limo, who will remain as a part of the management team. “Combining our 22 plus years of success and experience with their cutting-edge approach will make for a positive alliance.”
The deal came about from years of working together as affiliates. Although Olympus Limo was not for sale, the executives at both companies talked about mutual strengths and how the companies could compelement each other in their growing markets, Moulton said. "We realized what an opportunity it would be to add the Tampa market to our portfolio and worked with Ted on structuring the deal. Olympus is a great company with great people that we only look to make stronger with some structure, technology, and new fleet."
Moulton cited numbers showing Tampa and Orlando ranked second and third in Florida respectively for metro area economic growth behind Miami. Tampa's corporate, port and hotel revenues are expected to break revenue expectations this year. It's also ranked in the top 10 fastest growing corporate markets.
"Signature clients have been asking us to expand into specific markets with Tampa being one of them," Moulton told LCT.
Signature Transportation Group was founded in 2014 and is becoming one of the market leaders in the premium luxury market offering ground transportation in Chicago, Orlando, and Tampa. The company is operating a diverse premium fleet of more than 140 vehicles and has more than 180 employees and chauffeurs.
Olympus Limo has provided full service luxury transportation to the Tampa Bay area since 1996. The company is equipped to accommodate any size group. Services are specially designed to meet all personal and corporate transportation needs.
Sources: Signature Transportation Group press release; Martin Romjue, LCT
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