When Atlanta-based Red Clay Capital Holdings bought motorcoach tourism company Gray Line of Nashville, two groups of local lawyers were involved.
DLA Piper partner Joseph B. Alexander Jr. led the team for Red Clay Capital Holdings, a private investment firm focused on the long-term development of growth-stage companies. Atlanta corporate associate Anthony M. Webb and Baltimore tax partner Jordan I. Bailowitz also worked on the deal.
Terms of the deal, which was brokered by Corporate Finance Associates, a California-based investment bank, were not disclosed. Hoover’s, the business reporting company, estimated that LCL Inc., which operates as Gray Line and offers charter, daily sightseeing and package tours, had 2008 sales of $18.8 million.
Buckhead-based Atlantic Capital Bank provided financing for the deal. The bank was represented by partner Harrison J. Roberts and associate C. Keith Taylor at Parker, Hudson, Rainer & Dobbs.
The representation of LCL Inc./Gray Line was handled by Jeffrey Mobley of Howard & Mobley in Nashville, Tenn.