Las Vegas-based Ryan's Express, a "boutique-type" provider of premier motorcoach services, announced the sale of the company to El Segundo, Calif.-based Century Park Capital Partners.
As part of the deal, Michael Haggerty sold his remaining 51 percent ownership stake to the private equity group. Financial terms were not disclosed.
Century Capital first purchased part of Ryan's Express in April 2006, with the growth capital provided enabling the operation to fulfill its strategic expansion plan, which included key acquisitions as well as organic growth where the operation provided services, including Las Vegas, California, Arizona and Utah.
Century Park Capital Partners is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $50 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings.
The Ryan's Express staff has a combined 100+ years of experience in the transportation industry servicing domestic and international tour groups, destination management companies, hotels, resorts, universities, colleges, schools and clubs as well as travel agencies, transportation and charters.