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New York | September 2009
Premier limousine and chauffeur business operates in 650 cities worldwide
Praesidian Capital Investors, a leading provider of mezzanine capital for small and mid-sized companies, has invested $10 million of senior secured debt in EmpireCLS Worldwide Chauffeured Services, one of the largest independent service providers in the U.S. limousine and chauffeured transportation services industry.
Operating in over 650 markets, EmpireCLS serves over 3,000 customers including blue chip corporations and entertainment businesses, law firms, luxury hotels and airlines, and high net worth individual clientele. The company maintains an affiliate network across the United States and in over 60 foreign countries and has one of the highest client retention rates in the industry.
“Empire has established itself as a premier brand within the industry due to the core strengths of people, technology, systems, service logistics and fleet quality,” said Neil Marks, Managing Partner at Praesidian. “The experienced and highly motivated management team, led by David Seelinger, has done an outstanding job building a diversified revenue stream and positioning the company for sustained success.”
“We are delighted to have Praesidian Capital as an investment partner in EmpireCLS. Praesidian is a long-term investor which appreciates EmpireCLS’ position within the industry and our growth opportunity ahead,” said David Seelinger, Chairman and CEO of EmpireCLS. “Their commitment to our company is a testament to dedication and talent of our employees who are the backbone of our industry leading service.”
About Praesidian Capital Investors
Praesidian Capital partners with small and mid-sized businesses, providing private mezzanine capital. Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages over $400 million in committed capital. For more information, visit www.praesidian.com.
EmpireCLS is one of the largest chauffeured transportation companies in the world, operating in more than 650 cities around the globe. More than transportation from point A to point B, EmpireCLS has built a reputation for providing a luxurious and comfortable transportation experience beyond the ride. This experience encompasses not only the physical transportation, but also the myriad tools and services that make client interactions with EmpireCLS simple, effortless, secure, comfortable and consistent. For more information, visit www.EmpireCLS.com.
Media Contact: Dan Jacobs
Broadgate Consultants LLC
Phone: 212 232 2227
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