Wipfli Corporate Finance Advisors LLC (WCF) is pleased to announce the successful sale of its client, Chippewa Valley Airport Service, Inc. (CVAS), to Groome Transportation, a family owned Richmond, VA, based provider of transportation services, including airport shuttle and charter services.
CVAS, headquartered in Eau Claire, Wisconsin, began operations in 2007, and is a regional leader of airport shuttle and other transportation services. The company serves the western Wisconsin market, with locations in Eau Claire, Menomonie, Baldwin and Hudson.
"We are glad to have served as CVAS’s exclusive financial advisor, and to have worked with its owners, Bob and Dan Pekol,” said Jeff Milkie, WCF’s Managing Director and Investment Banking Practice Leader. “This transaction is a significant development for the Pekol’s, and we believe we achieved a result that benefits all parties involved, including the consumers located in the company’s geographic markets."
Financial terms of the transaction were not disclosed.
"WCF's experience, and ability to work efficiently with our legal, accounting and tax advisors, was very helpful and significantly impacted the outcome of this transaction," said Bob Pekol.