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Bikeshare Holdings to acquire Alta Bicycle Share.

MANews-(C)2009-2014

29 October 2014 - Newly-formed investment venture Bikeshare Holdings LLC said it had inked an agreement to buy US bike share operations company Alta Bicycle Share.

The price and other financial details of the deal were not provided.

Portland-based Alta Bicycle Share has an expertise in designing, deploying and managing bicycle share systems, providing services that include location assessment and business modelling, as well as system operations, marketing, maintenance and expansion. Alta currently operates programmes in New York City, Chicago, Washington, DC area, Boston area, San Francisco Bay area, Toronto, Seattle, Columbus, Chattanooga and Melbourne. The company was started in 2009 by Michael Jones, Mia Birk, Steve Durrant, George Hudson, Brett Hondorp and Jeff Olson.

The transaction will provide Alta will fresh funds to extend operations and improve customer experience, the buyer noted. In conjunction with the acquisition, Alta Bicycle Share will move its headquarters to New York City. Furthermore, transportation expert Jay Walder will serve as Alta Bicycle Share's CEO after the transaction closes, the press release said.

Country: USA

Sector: Business and Consumer Services, Road Transport/Freight Transport

Target: Alta Bicycle Share

Buyer: Bikeshare Holdings LLC

Vendor: George Hudson, Brett Hondorp , Steve Durrant, Mia Birk, Jeff Olson, Michael Jones

Type: LBO

Status: Agreed

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Publication:M & A Navigator
Date:Oct 29, 2014
Words:207
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