FOR IMMEDIATE RELEASE
Richmond, VA – (April 10, 2006) Transact Capital is pleased to announce the sale of Eastern Shore Ambulance Service, Inc. to Urban Capital. Plexus Capital and RBC Centura participated in the financing. Based in Sanford, VA, Eastern Shore is the leading provider of private non-emergency ambulance service in the Eastern Shore of Virginia and Greater Hampton Roads. The company has grown rapidly and in 2005, it provided over 40,000 transports. Their growth and success attracted Urban Capital who saw the opportunity to build a well run regional operation using the business model and skills developed by the owner and President of the company, Dennis Taylor, and his people.
According to Mr. Taylor, “we were self-made people who used to be volunteers for a rescue squad. We worked hard and had the good luck to have many dedicated people working for us. Over the years, we helped many people in many communities. We think Urban Capital will enable us to serve many more. We want to thank Transact Capital for introducing us and helping make this happen.”
Urban Capital, affiliated with Tenth Power and based in Toronto Canada, is a private equity investment firm, which partners with investors and management teams to build world class companies.
Plexus Capital provides growth capital to middle market companies through investments in subordinated debt and equity securities. Founded in 2005, Plexus Capital is an $80 million fund with offices in Charlotte, NC and Raleigh, NC and seeks investment opportunities throughout the Mid-Atlantic and Southeast.
RBC Centura serves personal, business and commercial clients in the southeastern United States. A wholly owned subsidiary of Royal Bank of Canada and based in Raleigh, NC, RBC Centura is one of the five largest banks in North Carolina.
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.