Century Park Capital Partners is pleased to announce that it has received final regulatory approval from the Nevada Transportation Authority (“NTA”) to complete the acquisition of all of the stock of Ryan’s Express Transportation Services, Inc. (“Ryan’s” or the “Company”). Headquartered in Las Vegas, Nevada, Ryan’s is a provider of premium motorcoach and chauffeured transportation services to corporations, destination management companies, government agencies and other organizations in California, Nevada and Arizona.
On June 24th, in connection with the acquisition of the remaining common equity of Ryan’s by Century Park and while awaiting regulatory approval, Century Park installed a new management team led by Mr. Albert Sherrer, the company’s former Chief Operating Officer. As part of the transaction, Michael Haggerty agreed to sell one-hundred percent of his ownership interest in the parent company of Ryan’s to Century Park and subsequently resigned from the Company.
Mr. Sherrer commented, “I am incredibly excited about the opportunity to lead Ryan’s through its next phase of growth. With the addition of new management, and Century Park’s capital and strategic support, we are better positioned than ever to deliver on our commitments to our valued clients and further improve on service levels that our clients require and deserve.”
In addition to Mr. Sherrer’s promotion, the Company hired George Cohen to serve as the Company’s new Chief Financial Officer. Mr. Cohen has over 15 years of financial management experience with private equity owned companies.
Marty Sarafa, Managing Partner with Century Park Capital Partners, commented, “Ryan’s has already experienced significant growth in bookings since the recent transaction and installation of new management. The Company has a very strong reputation in the Western United States, and now that it has received final regulatory approval for the transaction, is in a position to capitalize on recent disruptions in the sector by delivering the highest level of quality and service in the industry.”
The terms of the transaction were not disclosed.
About Ryan’s Express Transportation Services, Inc.:
Ryan’s Express Transportation Services, Inc., headquartered in Las Vegas, Nevada, is a leading provider of motorcoach and chauffeured transportation services in California, Nevada and Arizona. Ryan’s Express operates the highest quality equipment available in the industry, with customers that include domestic and international tour groups, destination management companies, hotels, resorts, high net-worth individuals, school clubs and government agencies. For more information on Ryan’s Express, please visitwww.ryanstransportation.com.
About Century Park Capital Partners:
Century Park Capital Partners is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $40 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings. Century Park seeks to support management in accelerating the growth curve of well-positioned companies by investing in infrastructure, internal growth initiatives, and strategic acquisitions. For more information on Century Park Capital Partners, please visit www.centuryparkcapital.com.