Dynasty Limousine Inc. Completes Acquisition of Southeast Limousines Inc.
Dynasty Limousine Inc. (PINKSHEETS: DNYS), a full service Luxury Transportation and Limousine firm covering the southeast United States, has completed the purchase and acquisition of a competitor located in Georgia. Dynasty purchased Southeast Limousine Inc., their vehicles, client base, and current book of business in an all cash transaction. This purchase will facilitate a greater presence for the Company in the Georgia market, and will offer the possibility of opening a third location in the area to service these clients more efficiently.
This is the first acquisition for Dynasty Limousine. There are currently other organizations that are available at attractive pricing, and it is the Company’s goal to expand and take advantage of these opportunities as they become available. Dynasty’s market share has increased during the recent economic downturn as the number of competitors has dropped by over 30% nationwide. The Company has increased revenues by 70% from 2006 to 2009, and the revenues through Q2 of this year are the highest in the Company's history.
About Dynasty Limousine Inc.
Dynasty Limousine is a full service Limousine and Transportation firm with offices in Jacksonville and Orange Park, Florida. The Company was founded in 1998 and currently operates a fleet of 15 Limousines, Luxury Sedans, and Limousine Buses with service areas primarily in the Florida and Georgia markets. The Company is a member of the National Limousine Association, and has a nationwide affiliate network to handle all domestic service requests. Dynasty currently has 16 employees, and is actively seeking acquisitions and expansion into additional markets.
Dynasty maintains an A+ accredited BBB rating, and was named a National top three finalist for “Limousine Operator of the Year” by LCT Magazine for both 2009 and 2010. Additional company information may be accessed via Dun and Bradstreet, Pinksheets.com, or by visiting the Investor Relations area located on our corporate websites. At the time of this release, the total number of shares issued and outstanding is 4,636,425.
Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this release, are forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products and services, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party vendors, and other risks detailed in the Company's prospectus and periodic reports filed with the Securities and Exchange Commission. Dynasty Limousine Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.