Carl Marks Advisors, an investment bank providing financial and operational advisory services to middle-market companies, served as the exclusive financial advisor to WE Transport, a provider of outsourced transportation services to the special needs and general education communities, in its sale to Beacon Mobility.
WE Transport provides transportation services for schools, summer camps, private charters and special needs programs across the New York City metropolitan area, including Long Island and Connecticut. The company’s customers include school districts, municipalities and not-for-profit organizations. Since its founding by Walter and Edith Marksohn in 1959, the company has grown to more than 2,000 vehicles and 2,800 employees.
“Beacon Mobility and WE Transport have natural synergies and are an ideal fit for one another. This partnership will provide WE Transport with new growth opportunities and additional access to resources, while Beacon Mobility will have an increased footprint in the New York area thanks to WE Transport’s stellar reputation and client base,” Warren Feder, a partner at Carl Marks Advisors, said. “We are delighted with the outcome that has been achieved for the Marksohn family and were honored to have represented them in the sale of this wonderful business that their family has built up over generations.”
Beacon Mobility provides specialty transportation services through a portfolio of companies located across the United States. WE Transport will join seven other companies in the Beacon platform, and Bart Marksohn, president of WE Transport, will continue in a senior leadership role managing the company’s business operations.
“When we made the decision to sell our family business — a company my parents built from a single blue Oldsmobile — we chose to work with Carl Marks Advisors because of their experience working with family businesses and determination to find the right buyer for our family, valued employees and customers,” Bart Marksohn said. “We are excited about our new partnership with Beacon Mobility, and our entire family is grateful to the Carl Marks Advisors team for going to bat for us throughout this process.”
