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Announcements
Naples Transportation, Tours & Event Planning - Acquired by Sunbelt Diversified Enterprises, LLC
Sunbelt Diversified Enterprises, LLC is pleased to announce that it has acquired Naples Transportation, Tours & Event Planning. It is a 20 year old company based in Naples, Florida that provides a) ground transportation in the form of luxury sedans, limousines, vans and mini-coaches for individual visitors as well as group special events, b) guided bus and trolley tours for local areas of interest, c) an old time general store servicing the historic downtown area, and d) professional event planning for corporate events. Combined sales exceed $8 million.
Founded as a tour company by the father of Randy Smith, the current CEO and former owner, it focused on the local and tourist market. In the mid 1990’s under Randy’s leadership, the company expanded and added a transportation business to serve the corporate and convention market. In 2002, the company further expanded with a special events department to cater to Fortune 500 company events. Naples Transportation, Tours & Event Planning has been named one of the 25 Top Destination Management Companies by Special Events Magazine for 2007.
Transportation services include full-service corporate transportation including airport transfers, event transportation and charters. Destination management and special event services include corporate events and packages for well known companies, weddings and theme parties.
Naples Transportation, Tours & Event Planning is noted for their half day and full day guided Everglades Safari Excursions with transportation to and from Naples. Naples Trolley Tours provide daily-narrated tours of Naples on board vintage trolleys covering over 100 points of interest. The company’s advertising business is supported by local merchants, who advertise on the trolleys’ side panels and in the trolleys’ guide maps. Segway Tours of Naples was added in 2007 to provide unique tours of downtown Naples with Segway PT units and has been extremely well received.
The company and its marketing plan are adaptable to other locations. Randy Smith has signed a long-term employment agreement to run the company as CEO.
Sunbelt Diversified Enterprises, LLC (“Sunbelt”) is a newly formed diversified holding company based in Coral Gables, Florida. In April 2006, the managing members raised $13 million in equity, which provided $35-$45 million in buying power with conservative leverage assumption.
Sunbelt targets diverse operating companies in the sub middle market with recurring EBITDA of $1.5-$5 million in 13 sunbelt states.
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