LockeBridge Capital Partners announced today that it has acted as exclusive financial advisor to Veterans Transportation, Inc, in its sale to Harrison Transportation, a provider of chauffeured transportation services including corporate travel services such as shuttle, sedan and other chauffeured services; aviation services; corporate and education sector busing. Veterans Transportation is a provider of senior and handicapped transportation services, and is the largest subcontractor to the Massachusetts Bay Transportation Authority’s Ride Program.
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”.