Kansas City-based private equity firm B12 Capital Partners LLC recently acquired Diamond Coach Corp. of Oswego, Kan. B12 also recently acquired Brown Industries LLC of Lawrence, Kan.
Both companies have similarities. They each build customized vehicles on a similar chassis, but Brown builds steel cargo vans and Diamond builds fiberglass shuttle buses.
B12 hopes to make several more acquisitions under the recently launched B12 Transportation Group umbrella in the next few years.
Investment banking and business advising company ClearRidge advised the owners of Diamond Coach on the company sale. B12 Capital Partners was chosen as the ideal partner due to their experience working alongside entrepreneurs and founders, their relationships and prior experience in Diamond Coach’s industry and their shared vision for the future growth of the company.
Diamond Coach models vary in design and size, accommodating from 14 to 32 passengers with optional lift and wheelchair options. Diamond’s customer base ranges from hotels to hospitals, nursing homes to churches, and casinos to military bases.