Global Passenger Services Enters Transportation Industry as Parent Company of Two Subsidiaries.FARMINGDALE, N.J.,--(BUSINESS WIRE)--July 10, 1997--Global Passenger Services, L.L.C., has been formed as the parent company of two operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. : Travelways Inc., a motorcoach and entertainment transportation company, and Student Transportation of America Inc., a nationwide provider of school transportation services. GPS is a partnership between Denis Denis, king of Portugal: see Diniz. J. Gallagher, former chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sightseeing Tours of America Inc., a New York-based sightseeing company, and Golder, Thoma, Cressey, Rauner Inc., a leading private equity firm based in Chicago. GPS will oversee acquisitions in both the entertainment transportation and school transportation industries. Initially, the company will seek to acquire carefully selected hub operations in targeted markets and retain the best local management to ensure high-quality field operations, customer service functions, employee relations and local business relations. "The entertainment transportation and school transportation services are both highly fragmented industries with significant potential for consolidation," says Denis J. Gallagher, chairman and CEO of Global Passenger Services. "Everyone on our team is committed to becoming the industry's premier source for transportation as well as our passengers' first choice for quality entertainment and exceptional service." Gallagher has more than 20 years' experience in the transportation industry. Prior to his affiliation with Sightseeing Tours of america Inc., he was a senior vice president with Laidlaw Inc.'s Passenger Services group and owner and operator of Coast Cities, founded by his grandfather in 1922. Golder, Thoma, Cressey, Rauner Inc. has committed capital to fund GPS startup and future acquisitions. The private equity investment firm, with more than $1.2 billion in private equity funds, is a leader in industry consolidation investing. GTCR GTCR Glacier Travel and Crevasse Rescue pioneered the investment strategy of identifying and then partnering with exceptional executives to consolidate fragmented or growth industries. GTCR has built more than 50 companies in a wide range of sectors including transportation, healthcare, information services See Information Systems. , outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , distribution and media and communications. "Denis Gallagher Denis Gallagher (November 23, 1922 – November 4, 2001) was a senior Irish Fianna Fáil politician. He served as Minister for the Gaeltacht on two occasions. Denis Gallagher was born in Currane, by Clew Bay, facing Achill Island, County Mayo in 1922. is an expert in the transportation industry and a leader who, backed by GTCR's resources, will turn GPS into a major player," says Bruce V. Rauner, a principal of GTCR. "With the current trend toward privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned and outsourcing, we believe that the transportation industry has enormous growth potential," says Joseph P. Nolan, a principal of GTCR. "And with Denis Gallagher's leadership and foresight (graphics, tool) Foresight - A software product from Nu Thena providing graphical modelling tools for high level system design and simulation. , GPS can outdistance out·dis·tance tr.v. out·dis·tanced, out·dis·tanc·ing, out·dis·tanc·es 1. To outrun, especially in a long-distance race. 2. its competitors," he adds. As a premier transportation company, GPS has quality safety programs, including classroom and behind-the-wheel training; detailed maintenance programs and inspections systems; facility and environmental protection and compliance programs; and national sales and marketing programs. Global Passenger Services is a leading provider of transportation management services across the country, for schools, sightseeing tour companies and entertainment venues including sporting events, conventions, hotels and resorts, airports, amusements parks and other attractions. Global Passenger Services can be reached at 908/919-1888 or via Email at http://www.stal@bellatlantic.net . CONTACT: Global Passenger Services, L.L.C. Denis J. Gallagher, 908/919-1888 or Golder, Thoma, Cressey, Rauner Inc. Joseph P. Nolan, 312/382-2227 |
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