[Federal Register Volume 71, Number 250 (Friday, December 29, 2006)]
[Notices]
[Pages 78512-78513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-22307]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Docket No. MC-F-21019]
Fenway Partners Capital Fund III, L.P., et al.-Control-Coach
America Holdings, Inc., et al.
AGENCY: Surface Transportation Board.
ACTION: Notice Tentatively Approving Finance Transaction.
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SUMMARY: Fenway Partners Capital Fund III, L.P. (Fenway Partners), a
noncarrier, and various subsidiary entities of Fenway Partners
(collectively, applicants), have filed an application under 49 U.S.C.
14303 to acquire control of noncarrier Coach America Holdings, Inc.
(Coach America), and 30 Coach America-controlled motor passenger
carriers. Coach America currently controls through intermediate
subsidiaries the following federally regulated motor carriers of
passengers: America Charters Ltd.; American Coach Lines of Atlanta,
Inc.; American Coach Lines of Jacksonville, Inc.; American Coach Lines
of Miami, Inc.; American Coach Lines of Orlando, Inc.; CUSA LLC; CUSA
ASL, LLC d/b/a Arrow Stage Lines; CUSA AT, LLC d/b/a Americoach
[[Page 78513]]
Tours; CUSA AWC, LLC d/b/a All West Coachlines; CUSA BCCAE, LLC d/b/a
Blackhawk-Central City Ace Express; CUSA CC, LLC d/b/a Coach USA Los
Angeles; CUSA CSS, LLC d/b/a Crew Shuttle Services; CUSA EE, LLC d/b/a
El Expreso; CUSA ELKO, LLC d/b/a K-T Contract Services Elko; CUSA ES,
LLC d/b/a Express Shuttle; CUSA FL, LLC d/b/a Franciscan Lines; CUSA
FTT, LLC d/b/a Fun Time Tours; CUSA GCBS, LLC d/b/a Goodall's Charter
Bus Service; CUSA GCT, LLC d/b/a Gulf Coast Transportation; CUSA KBC,
LLC d/b/a Kerrville Bus Company; CUSA K-TCS, LLC d/b/a Coach USA and d/
b/a Gray Line Airport Shuttle; CUSA K-TCS, LLC d/b/a Arizona Charters;
CUSA PCSTC, LLC d/b/a Pacific Coast Sightseeing Tours & Charters; CUSA
PRTS, LLC d/b/a Powder River Transportation Services; CUSA RAZ, LLC d/
b/a Raz Transportation Company; Dillon's Bus Service Inc.; Florida
Cruise Connection, Inc. d/b/a Cruise Connection; Midnight Sun Tours,
Inc.; Southern Coach Company; and Southern Tours, Inc.\1\ Persons
wishing to oppose this application must follow the rules at 49 CFR
1182.5 and 1182.8. The Board has tentatively approved the transaction,
and, if no opposing comments are timely filed, this notice will be the
final Board action.
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\1\ The application, as originally filed, also sought authority
to control CUSA NC, LLC d/b/a Nevada Charters (Nevada Charters).
Applicants subsequently advised the Board that Nevada Charters has
voluntarily surrendered its interstate operating authority and that
applicants no longer seek authority to control Nevada Charters.
DATES: Comments must be filed by February 12, 2007. Applicants may file
a reply by February 27, 2007. If no comments are filed by February 12,
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2007, this notice is effective on that date.
ADDRESSES: Send an original and 10 copies of any comments referring to
STB Docket No. MC-F-21019 to: Surface Transportation Board, 1925 K
Street, NW., Washington, DC 20423-0001. In addition, send one copy of
comments to the applicants' representative: Richard H. Streeter, Barnes
& Thornburg LLP, 750 17th Street, NW., Washington, DC 20006-4675.
FOR FURTHER INFORMATION CONTACT: Eric S. Davis, (202) 565-1608 [Federal
Information Relay Service (FIRS) for the hearing impaired: 1-800-877-
8339].
SUPPLEMENTARY INFORMATION: Fenway Partners is a Delaware limited
partnership organized in 2005 by Fenway Partners, Inc. (Fenway), a
private equity firm that invests in numerous different businesses,
including other transportation-related entities, through various
limited partnerships and other investment entities. Fenway has $1.6
billion under management. Fenway Partners owns all of the outstanding
stock of Coach Am Holdings Corp. (Coach Am Holdings), a Delaware
corporation organized to consummate this transaction. Coach Am Holdings
in turn owns all of the stock of Coach Am Acquisition Corp. (Coach Am
Acquisition), another Delaware corporation set up for purposes of this
transaction. Coach Am Acquisition will be merged into Coach America,
with Coach America left as the surviving company. Following the merger,
Coach America will be wholly owned by Coach Am Holdings, and,
indirectly, by Coach Am Holdings' parent, Fenway Partners. No operating
authorities will be transferred as a result of the transaction.
Coach America, a Delaware corporation, controls the previously
named federally regulated motor carriers through its subsidiaries Coach
America Group, Inc., and KBUS Holdings, LLC. The motor carriers
controlled by Coach America had gross operating revenues for the 12-
month period ending October 31, 2006, greater than the $2 million
threshold required for Board jurisdiction (gross revenues of
approximately $330 million in 2005).
Under 49 U.S.C. 14303(b), the Board must approve and authorize a
transaction found to be consistent with the public interest, taking
into consideration at least: (1) The effect of the transaction on the
adequacy of transportation to the public; (2) the total fixed charges
that result; and (3) the interest of affected carrier employees.
Applicants have submitted information, as required by 49 CFR
1182.2, including the information to demonstrate that the proposed
transaction is consistent with the public interest under 49 U.S.C.
14303(b). They state that the proposed transaction will have no impact
on the adequacy of transportation services available to the public,
that the proposed transaction will not have an adverse effect on total
fixed charges, and that there will be no material adverse impact on the
employees of the Coach America-controlled carriers. Additional
information, including a copy of the application, may be obtained from
the applicants' representative.
On the basis of the application, we find that the proposed
acquisition of control is consistent with the public interest and
should be authorized. If any opposing comments are timely filed, this
finding will be deemed vacated, and unless a final decision can be made
on the record as developed, a procedural schedule will be adopted to
reconsider the application. See 49 CFR 1182.6(c). If no opposing
comments are filed by the expiration of the comment period, this notice
will take effect automatically and will be the final Board action.
Board decisions and notices are available on our Web site at http://www.stb.dot.gov.
This decision will not significantly affect either the quality of
the human environment or the conservation of energy resources.
It is ordered:
1. The proposed finance transaction is approved and authorized,
subject to the filing of opposing comments.
2. If timely opposing comments are filed, the findings made in this
notice will be deemed as having been vacated.
3. This notice will be effective February 12, 2007, unless timely
opposing comments are filed.
4. A copy of this notice will be served on: (1) the U.S. Department
of Transportation, Federal Motor Carrier Safety Administration, 400 7th
Street, SW., Room 8214, Washington, DC 20590; (2) the U.S. Department
of Justice, Antitrust Division, 10th Street & Pennsylvania Avenue, NW.,
Washington, DC 20530; and (3) the U.S. Department of Transportation,
Office of the General Counsel, 400 7th Street, SW., Washington, DC
20590.
Decided: December 22, 2006.
By the Board, Chairman Nottingham, Vice Chairman Mulvey, and
Commissioner Buttrey.
Vernon A. Williams,
Secretary.
[FR Doc. E6-22307 Filed 12-27-06; 8:45 am]
BILLING CODE 4915-01-P