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Arlington, Texas — Tenney Group, industry merger and acquisition advisors, recently announced that transportation owners can now obtain a TransValuation knowing they will be able to secure a comprehensive updated annual report for approximately 35 percent of the original service cost. As with all of Tenney Group’s services, the TransValuation is specifically designed for transportation companies.
Senior Managing Partner Charles Tenney explained the reason why Tenney Group launched the new service: “Many transportation business owners have anywhere from 80-100 percent of their future retirement funds hinging on the future sale of their business. Many of these same operator business owners go 20 years without assessing what their business is actually worth. This creates tremendous exposure for business owners and severely limits their ability to build and protect wealth through their business. We made the decision to reengineer how we provide business valuations so owners in our industry can cost effectively monitor and protect their greatest financial investment—their transportation business.”
Tenney Group created this video for more information on its services: Separating from the M&A Advisory Pack.
Spencer and Charles TenneyTenney detailed some of the company’s most recent M&A services:
- Assessing the value of a potential acquisition target on behalf of an industry buyer
- Providing business sale advisory services for a NY chauffeured transportation company with $4.3M in sales
- Providing buy side advisory services for a $20M ambulance looking to diversify by investing in chauffeured transportation
- Providing exit-planning coaching for a $1.4M chauffeured transportation company on the West Coast
- Helping a $3M family-owned business protect wealth and avoid risk while determining if the next generation is going to take over the company
- Providing sale side advisory services to a $20M motorcoach company
Visit thetenneygroup.com for more information.
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NELA Executive Director Rick Szilagyi
New England Livery Association (NELA) has recently appointed four new directors, making this the first time “in a long time” that all of the board’s open slots have been filled, according to Executive Director Rick Szilagyi.
Joe Cardillo of All Occasion Transportation, Wayne Cippullo of Great Bay Limousine, Jason Dornhoffer of United Worldwide, and Jerry Robbins of Weldon Worldwide are NELA’s newest directors, offering a mix of longtime industry experience and legislative involvement with their appointments.
“We’ve been very fortunate lately in getting to know our members better than we have before, as a result of our legislative efforts,” Szilagyi said.
Those same legislative efforts are beginning to spread throughout the region, with roughly half a dozen members of NELA testifying earlier this month against New Hampshire’s HB-1697, which “requires the Department of Safety to regulate the operation and insurance of transportation network companies.” The fate of the proposed legislation should be decided within a week, with members preferring to see the bill killed rather than pass in the Senate.
“The bill has now moved to the House and it’s on a fast track, so we’re in the eleventh hour and 57 minutes,” Szilagyi said.
NELA is currently looking to bring on a lobbying group to support continued association activity in New Hampshire.
NELA’s annual membership meeting is scheduled for June 14, while it will hold its Chauffeur Appreciation Day on June 2.
Visit nelivery.org for more information.
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Chicago — Windy City Limousine recently added three new Van Hool buses to its fleet.
Windy City President George Jacobs admits that he's been in a "buying frenzy" recently and that the three buses are among a spate of vehicle additions. And while he has been purchasing from an array of companies, these buses and the dealer through which they were purchased, ABC Companies, made the transaction especially memorable.
"The product itself is a wonderful product, and I’m so thrilled with the way they’ve treated us," Jacobs said. "It means a lot to me that they’re willing to do things to make us feel special."
Jacobs credits Tony Simon of Reston Limousine for inspiring some outside-the-box thinking in terms of drawing up a purchasing deal for the buses.
Windy City recently purchased three Van Hool buses from ABC Companies"Tony was working on a deal for himself with Van Hool," Jacobs said. "He did all the hard work and I just really came in and copied his hard work. Tony came up with some ideas that I would not have thought of, which made it go from a good deal to a great deal."
The three buses were driven from Florida to Windy City, where a team was waiting to put the company logo on each one so the new vehicles could hit the road as soon as possible. They're already transporting people as far as Washington, D.C., and Jacobs couldn't be happier.
"We've sent them out everywhere, and they're running so well," he said. "These are the first three of many. We’ll be buying more."
Visit windycitylimos.com and abc-companies.com for more information.
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