 |
Acquisition
| Investment Date: |
April 2007
|
| Revenue: |
$393M
|
| Fenway Investment: |
$60M
|
Value Creation
- Focus on improving profitability: pricing, expense control, asset utilization
- Pursue add-on acquisitions at accretive multiples
|
|
| |
Overview |
|
| Coach America is the largest contract and charter bus operator and the second largest motorcoach services provider in the U.S. |
Investment Profile
|
 |
- Consistent revenue growth - 4% annually over many years
- Trend to outsource non-core transit services, employee shuttle contracts and municipal transport services
- Traffic congestion, fuel costs, and demographic trends support long-term demands for Coach's services
- Market leader in the markets it serves
- 2x relative market share in many markets = advantages in asset utilization, large contracts, procurement, fuel purchases, insurance
- Attractive geographic footprint in regions with growth
- Consolidator platform for smaller add-on acquisitions
- Improve asset utilization across markets
- Focus on pricing and return on capital
- Consolidate a fragmented industry
|
 |
|
|
Facts at a Glance
