New York-based Praesidian Capital Investors, a provider of mezzanine capital for small and mid-sized companies, invested $10m of senior secured debt in EmpireCLS Worldwide Chauffeured Services, a provider of limousine and chauffeured transportation services.
EmpireCLS serves over 3,000 customers including blue chip corporations and entertainment businesses, law firms, luxury hotels and airlines, and high net worth individual clientele. The company has an affiliate network across the USA and in over 60 foreign countries.
Commenting on the investment, David Seelinger, Chairman and CEO of EmpireCLS, was quoted as saying “We are delighted to have Praesidian Capital as an investment partner in EmpireCLS. Praesidian is a long-term investor which appreciates EmpireCLS’ position within the industry and our growth opportunity ahead”.