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LCL, Inc. dba Gray Line of Nashville has been acquired by Red Clay Capital Holdings, LLC

LCL, Inc. dba Gray Line of Nashville

has been acquired by

Red Clay Capital Holdings, LLC


Corporate Finance Associates
acted as financial advisor to LCL, Inc. dba Gray Line of Nashville


Situation: It was time to retire. In their late 50s, Chris and Dennis Levering decided to sell the tourism and transit business that they had spent over three decades building. The business had doubled in size during the last five years and it was blessed with a strong management team. They achieved market dominance in the region, which is unusual for a city the size of Nashville.

Solution: Charged with a task made extra difficult by the turmoil in the capital markets, the team at the Memphis office of CFA secured offers from strategic and financial buyers. This provided a pool from which the best buyer was selected to carry on the business founded by Levering brothers in 1974.