DALLAS, TX - November 4, 2008 - Coach America, the largest tour and charter bus operator and the second largest motorcoach services provider in the U.S., today announced that George Maney, Executive Vice President and Chief Financial Officer, has been named President of Coach America, effective immediately.
Mr. Maney has over 20 years of experience in the transportation and logistics industry. Prior to joining Coach America in 2006, Mr. Maney served as Vice President of Operations at Independent Stationers. Earlier in his career, he held finance and managerial positions at Daisytek International, McKesson and American Airlines. He holds a B.A. from The University of Notre Dame and an M.B.A. from The University of Texas at Austin.
“It is exciting and satisfying to promote such a capable individual from within our organization,” said Mike Haley, Chairman of the Board of Coach America and a member of Fenway Partners Resources. “George is intelligent, dedicated and very responsive to the needs of our customers, employees and the marketplace. Coach America has made great strides in our performance at all levels in 2008 and we look forward to George leading us to continued growth in 2009.”
Mr. Maney commented, “I am honored to be given this opportunity to lead Coach America into its next phase of growth and development. I look forward to working with Mike and the rest of the Coach America and Fenway teams to realize the Company’s tremendous potential.”
Mr. Maney will work with members of the finance team to handle his former responsibilities as Chief Financial Officer until a permanent replacement is named.
The Company also announced that Bill Bergstrom, Chief Operating Officer, has left the Company in order to pursue other opportunities. The Board of Directors has initiated a search for a permanent replacement and will make an announcement when the process has concluded.
Mr. Haley added, “On behalf of the entire organization, the Board of Directors wants to thank Bill for his dedication and service to Coach America. We are grateful for all of his efforts and wish him well in his future endeavors.”
About Coach America
Coach America is the largest tour and charter bus operator and the second largest motorcoach service provider in the highly fragmented U.S. surface transportation industry. Headquartered in Dallas, Texas, Coach America provides transportation services throughout the entire United States. Services provided by Coach America include motorcoach charters, tours and sightseeing, commuter transportation, airport and casino shuttles, rail crew transportation and contract services for municipalities and corporations. Coach America operates the second largest fleet in the U.S. with over 3,000 well maintained vehicles, including over 1,600 motorcoaches, primarily under the well recognized Coach America, Coach USA, American Coach Lines and Gray Line brands. For more information, please visit www.coachamerica.com.
About Fenway Partners
Fenway Partners is a middle market private equity firm based in New York with approximately $2.0 billion under management. Fenway invests in profitable businesses with significant upside potential. Fenway companies typically have leading franchises and operate in two core industry segments, branded consumer products and transportation/logistics. With significant knowledge and success investing in these industries, Fenway has built a strong reputation for its hands on approach to supporting portfolio companies. Fenway’s current portfolio includes: 1-800-CONTACTS (the leading direct-to-consumer distributor of contact lenses); American Achievement (class ring and yearbook supplier to schools); Coach American (motorcoach bus operator); Easton Bell Sports (performance sporting goods manufacturer); Fastfrate (Canadian transportation and logistics services); Panther (expedited ground and air transportation solutions); Preferred Freezer (frozen public warehousing services); Refrigerated Holdings (temperature-controlled warehouse and transportation services); RoadLink (intermodal logistics); and Targus International (designer and distributor of mobile computer carry cases and accessories). For further information about Fenway Partners, please visit www.fenwaypartners.com.
Contact
Brooke Morganstein Gordon/Jonathan Doorley
Sard Verbinnen & Co
212-687-8080