LockeBridge Capital Partners announced today that it has acted as exclusive sell-side financial advisor to Newton Veterans Taxi, Inc., the regions largest provider of taxi services. The acquirer, Harrison Transportation Services, Inc., is a provider of chauffeured transportation services including limousines and buses in the corporate and education markets. The terms of the transaction were not disclosed.
According to Mr. Daniel MacInnis, President of Veterans Transportation Services, Inc, “The Harrison Transportation operation is highly synergistic with the services that Veterans Transportation offers. As such, we are confident that the management of Harrison will continue the exceptional growth of the Veterans operation. The transaction was fraught with both financing and legal challenges which would not have been overcome without the highly skilled LockeBridge team, which worked closely with us not only in an investment banking capacity but also substantially supplemented our legal and accounting needs.”
Mr. Tyler Block, Vice President of LockeBridge investment banking states, “Structuring this highly leveraged transaction in the height of one of the largest liquidity squeezes in U.S. history was extremely challenging. We were very pleased to have concluded the transaction using financial instruments which resulted in a highly beneficial deal for both the Buyers and the Sellers”.