Praesidian Capital has exited its investment in EmpireCLS Worldwide Chauffeured Services, a provider of limousine and chauffeured transportation services. In July 2009, Praesidian invested $10 million of senior secured debt in the company.
Praesidian Capital (“the Firm”), a leading provider of senior and subordinated debt for small and mid-sized companies, successfully exited its investment in EmpireCLS Worldwide Chauffeured Services (“EmpireCLS”), one of the largest independent service providers in the U.S. limousine and chauffeured transportation services industry.
In July 2009, Praesidian invested $10 million of senior secured debt to support EmpireCLS’s expansion into further geographic markets both domestically and internationally.
“With strong vision, superior service and a stellar management team, EmpireCLS has revolutionized the premium Chauffeured Services industry,” said Jon Mansfield, Partner at Praesidian. “We are pleased that we were able to support the company’s continued growth and expansion in attractive markets.”
“Praesidian has been a valuable financial partner over the past few years,” stated David Seelinger, Chairman and CEO of EmpireCLS. “We appreciate their support at a critical time as we’ve strengthened the company’s position as the global leader in limousine service.”
EmpireCLS is one of the largest chauffeured transportation companies in the world, operating in more than 700 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.
eAbout Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, 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 more than $700 million in committed capital.