Allied Industrial Partners has made an investment in Celebrity Coaches, a provider of transportation services to the live events and entertainment sector, in partnership with the company’s founder and senior management team.
Celebrity Coaches provides designing, fabricating, and leasing services for custom luxury motorcoaches used across America by artists in the entertainment industry as well as sports teams and politicians. The company was founded in 2005 by President Jeff Michael and is headquartered near Nashville in Hendersonville, Tennessee.
Post-closing, the business will continue to be led by Mr. Michael along with other members of the management team including General Manager Josh Trivett.
“We carefully selected Allied as our partner for the next phase of growth due to its cultural fit and track record in our industry. With our new partnership, we are poised to rapidly scale our operations and enhance our service offerings,” said Mr. Michael. “Allied’s commitment to the entertainment industry and its proven success in nurturing companies made it the right choice for us, and we look forward to working closely together.”
The entertainment equipment rental sector is not new to Allied. In June 2021, the firm formed Memphis-headquartered CES Power to carve out CAT Entertainment Services, a provider of power services to the broadcasting and entertainment sectors, from Ring Power Corporation. Under Allied ownership, CES has been actively building its business through add-on acquisitions and in September 2023, the company closed its eighth add-on with the buy of Euro Touring Power, an Ireland-based provider of electrical and air conditioning equipment rental services to touring productions throughout Europe.
Celebrity Coaches operates a fleet of more than 40 Prevost coaches and merchandise trailers and has an 18,000 square-foot facility with temperature controlled equipment storage, laundry facilities, washing bays, and secure 24/7 parking. Prevost is a maker of luxury motor coaches and high-end recreational vehicles. The company’s products, known for their luxurious interiors and advanced technology, are used for executive transportation, charter services, tours, and other upscale travel purposes.
Celebrity Coaches’ services also include providing drivers, insuring regulation compliance, preventative maintenance, and record keeping.
“We are excited to partner with the Celebrity Coaches team to build a diversified and scaled platform focused on entertainment infrastructure services,” said Bradford Rossi and Philip Wright, the co-founders and managing partners of Allied in a released statement. “Under Jeff’s guidance, Celebrity has experienced steady and consistent growth through various economic cycles while maintaining top-tier service to his clientele, and with our additional resources, we believe the company is poised to capture greater market share.”
Allied Industrial invests in lower and middle-market companies that have EBITDA from $2 million to $25 million. Sectors of interest include industrial rentals, manufacturing, distribution, environmental services, and infrastructure sectors. Allied was founded in 2019 and is headquartered in Houston.
© 2024 Private Equity Professional | March 22, 2024
