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