DENVER, CO - Headwaters MB advised Loop Transportation, Inc., on its sale to Hallcon Corporation. Terms of the transaction were not disclosed.
Hallcon’s acquisition of Loop will allow the company to expand its industry-leading commuter bus services beyond the San Francisco Bay Area. Loop operates the eighth largest private bus fleet in the United States, and provides private employee commuter bus services to tech giants such as Google, Facebook, Apple and LinkedIn. Loop also operates airport shuttles at San Francisco International Airport and Oakland International Airport.
“This partnership will allow Loop to leverage Hallcon’s financial and operating strength to more effectively grow employee transportation solutions nationwide,” said Loop CEO, Jeff Leonoudakis.
Over the last three years, the premium commuter transportation industry has grown 87 percent in the Bay Area. Loop entered the commuter bus services business with only eight vans four years ago, but now has over 300 shuttle buses and vehicles, and transports over 29,000 people per day. The acquisition by Hallcon is vital to maintaining Loop’s position as the industry leader, and will enhance its ability to respond quickly to evolving needs and growth opportunities in a way that continues to set Loop apart from its competitors.
Tyler Comann, Headwaters Managing Director, commented, “This is a perfect example of a strong strategic fit between buyer and seller leading to an acquisition that makes excellent financial sense for both parties.”