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Coach USA Announces Seven Acquisitions.


HOUSTON--(BUSINESS WIRE)--Nov. 13, 1997--Coach USA, Inc., (NYSE NYSE

See: New York Stock Exchange
: CUI (Character-based User Interface) A user interface that uses the character, or text, mode of the computer, such as DOS and Unix. In order to instruct the computer, commands are typed in. Contrast with GUI. ), announced today that it has acquired seven additional motorcoach and passenger ground transportation companies having annual revenues of $37 million. These acquisitions include Keeshin Transportation of Chicago, Illinois; Pixley Transportation of Gillette, Wyoming Gillette is a city in Campbell County, Wyoming, United States. The population was 19,646 at the 2000 census. It is the county seat of Campbell CountyGR6. ; AmeriCoach Tours of Memphis, Tennessee For the ancient Egyptian capital, see .

Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River.
; Browder Tours of Memphis, Tennessee; World Transportation of Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. ; Pawtuxet Valley Bus Lines of Providence, Rhode Island

“Providence” redirects here. For other uses, see Providence (disambiguation).
Providence is the capital and the most populous city of the U.S.
; and Golden Isles Coaches of Jacksonville, Florida.

These acquisitions bring the total revenues acquired during 1997 to $269 million and increases the annualized annualized

Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared.
 revenue run rate to $570 million. Terms of the transactions were not disclosed.

Richard H. Kristinik, Coach USA s Chairman and Chief Executive Officer, said, "We are very pleased with the diversity and quality of the group of companies joining Coach USA. These transactions represent our first entry into the Illinois, Tennessee and Rhode Island Rhode Island, island, United States
Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches.
 markets, and have added depth to our operations in Florida and Wyoming. During our one and one-half years of operation, we have grown from six operating companies located in three states, with annual revenues of $113 million, to 42 operating companies located in 21 states with annual revenues of $570 million."

-- Keeshin Transportation provides motorcoach charter service for many of the conventions in Chicago, and employee shuttle service to O'Hare Airport.

-- Pixley Transportation provides van transportation for railroad crews, to and from their job sites in Wyoming, Montana, Idaho and Washington.

-- AmeriCoach Tours provides motorcoach tour and charter service, including special event services for some of the major corporations in the Memphis service area.

-- Browder Tours provides motorcoach charter service in the Memphis service area, including charters to the casinos in Tunica, Mississippi.

-- World Transportation provides motorcoach shuttle service in the greater Orlando area, and motorcoach and van shuttle service to and from the Sanford Airport outside Orlando.

-- Pawtuxet Valley Bus Lines provides motorcoach charter services in the New England area and on-sight patron transportation at the Foxwoods Casino in Connecticut.

-- Golden Isles Coaches provides charters, packaged tours, and contract services for military bases in northern Florida and southern Georgia.

Coach USA, Inc. is the largest provider of motorcoach tour and charter services and one of the largest providers of motorcoach commuter and transit services in the United States. -0-

Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These statements are based on the current plans and expectations of Coach USA, Inc. and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward- looking statements. Important factors that could cause actual results to differ include, among others, risks associated with acquisitions, fluctuations in operating results because of acquisitions and variations in stock prices, changes in government regulations, competition, and risks of operations and growth of the newly acquired businesses.

CONTACT: Coach USA Inc.

Dick Kristinik/Larry King

1(888) COACH-US

or

Morgen-Walke Associates

Betsy Brod/Karen Kruza

Investor Relations Investor relations

The process by which the corporation communicates with its investors.
 

212/850-5600
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 13, 1997
Words:501
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