Driving Results For Our Valued Clients
Janney Advises Veterans Transportation Co.
on its Sale to WE Business Management
For More Information, Please Contact:

Stephen Gaines
Managing Director
443-478-1970
sgaines@janney.com
Transaction Overview

September 6, 2019 Janney Montgomery Scott LLC (“Janney”) is pleased to announce that it has served as the exclusive financial advisor to Veterans Transportation Co., Inc. (“VTC”), an established school bus operator, on its sale to WE Business Management, Inc. (“WE”). VTC is a long-standing provider of student transportation services in Nassau County, New York. The company’s personal approach to customer service along with its commitment to safety and dependability earned the company the trust of school districts throughout Nassau County. The company’s valued relationships proved to be a key driver in the acquisition, along with its talented staff. WE saw strategic value in the acquisition as it sought to solidify its geographic footprint in the greater New York City area and deeper still on Long Island.

SilvermanAcampora LLP served as legal advisor to VTC, and Weinberg, Gross & Pergament LLP served as legal advisor to WE.

About Veterans Transportation Co., Inc.

VTC prides itself on over 60 years of providing its communities’ schools and parents with safe, reliable school bus transportation for public and private school students in Nassau County, New York. Founded in 1957, VTC has grown alongside the population of its county to nearly 300 employees, and has developed a trusted brand throughout its communities. VTC has been family owned and operated through three generations.

About WE Business Management, Inc.

WE has been a respected Long Island, New York school-based bus operator for more than 50 years. During the past five decades, WE has provided its Nassau and Suffolk County (NY) customers, and more recently its Westchester County (NY), New York City and Connecticut customers, with transportation for home-to-school, parochial, private, wheelchair-bound riders, other special-needs riders and pre-school children. 
“The value Janney brought to this transaction proved unquestionable, as the deal team carefully guided us through a thorough and organized sale process. Janney’s process created a market of potential buyers, from which we were able to select a buyer that accomplished our transaction objectives – for the company as a whole and for its individual partners. Janney’s high quality of advice outperformed our expectations.”
- Howard Boyce, Jr., CEO & President of Veterans Transportation Co.
About Janney's Business Services Investment Banking Team

Janney's Business Services Investment Banking Team provides a wide range of investment banking, financial advisory and restructuring services to meet the needs of our Clients. The team has a culture of unparalleled work ethic and impact, with 60 transactions completed since 2009 with an aggregate deal value in excess of $1 billion. Averaging more than 20 years of experience each, our senior leadership possesses deep strategic and private equity relationships and is highly involved in the day-to-day delivery of client services.
About Janney

Established in 1832, Janney Montgomery Scott LLC is a leading full-service investment banking and financial services firm serving individual, corporate, institutional and government clients. Janney is an independently operated subsidiary of The Penn Mutual Life Insurance Company, one of the 15 largest mutual insurance companies in the nation, and is a member of the New York Stock Exchange, Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.

Janney's Investment Banking Team

Janney’s Investment Banking practice is a leader in middle-market financing solutions. We place a high value on our consistent track record of delivering solutions to our clients. Since 2009, we have completed 605 transactions aggregating $85B in transaction value.  We work with clients on a highly-personalized basis, providing exceptional service, commitment and senior level attention. 

Cliff Booth
Co-Head of Investment Banking
410-583-5992
cbooth @ janney.com
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