Santa Monica, CA – March 3, 2005 – CLS
Worldwide Services, LLC (“CLS”), a portfolio
company of Bison Capital Structured Equity Partners, LLC
(“Bison Capital”), announces the acquisition
of Empire International, Ltd (“Empire”). Empire
is a leading provider of chauffeured ground transportation
to corporate customers across the United States. Bison
Capital will be a minority shareholder of GTS Holdings,
Inc., the new parent company of Empire and CLS.
Empire’s focus on corporate clientele
complements CLS’ leading relationships within the entertainment
industry. Together, the combined company will be one of the
three largest
providers of chauffeured ground transportation
in the country, with locations in New York, New Jersey, Los
Angeles, San Francisco and Aspen and over 800 affiliates
in other locations nationwide. David Seelinger, former Chief
Executive Officer of Empire, will serve as the Chairman and
Chief Executive Officer of GTS Holdings, Inc. and will also
be its majority shareholder. Leon Reitzenstein of CLS will
continue as President and Chief Operating Officer of the
new company.
“Empire, like CLS, possesses a
superior reputation and management team. The combined company’s
diversified customer base and industry-leading technology
will greatly enhance its ability to compete in the chauffeured
ground transportation industry. Together, Empire and CLS
will be in an outstanding position both to grow organically
and to pursue further acquisition opportunities,” said
Bison Capital Partner, Doug Trussler.
Bison Capital provides growth capital to
public and private entrepreneurial companies. We provide capital
for expansion, acquisition or balance sheet restructuring in
partnership with the management team. |
