Dallas-based Allegiance Capital completes the sale of Precision Motors

by PegNews wire

DALLAS — Allegiance Capital Corporation, a full-service investment banking firm servicing middle market companies worldwide, announces the sale of Precision Motors Transport Group (PMTG), a Michigan company that specializes in the transport of European luxury cars throughout the United States.

The purchaser is Corinthian Capital Group, LLC, a private equity firm that specializes in investing in small and middle market companies.

PMTG is a profitable, well-run business with a stellar reputation in the automotive transport industry, noted Yoram Kinberg, managing director of Allegiance Capital Corporation’s New York office. “Our client wanted to take some money off the table while retaining a significant investment in the business so they could participate in the future growth of the company. This was a complex transaction which meant conducting a global search to find the right strategic partner. The tight credit market and financial turbulence created a challenging negotiating environment.”

According to Bill van Wagner, managing director of Allegiance Capital New York and co-manager of the PMTG transaction, “The sheer tenacity of the Allegiance Capital team paid off, as we were determined to obtain a premium price for the business while successfully closing the transaction under terms benefitting PMTG owners and management team.”

Source: Allegiance Capital