[Federal Register Volume 73, Number 38 (Tuesday, February 26, 2008)]
[Notices]
[Pages 10332-10333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-3580]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Docket No. MC-F-21025]


Fenway Partners Capital Fund III, L.P., and Coach America 
Holdings, Inc.--Control--Lakefront Lines, Inc., and Hopkins Airport 
Limousine Service, Inc.

AGENCY: Surface Transportation Board, DOT.

ACTION: Notice Tentatively Approving Finance Transaction.

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SUMMARY: On February 1, 2008, Fenway Partners Capital Fund III, L.P. 
(Fenway), a noncarrier, and Coach America Holdings, Inc. (Coach 
America) (collectively, applicants), a noncarrier, have filed an 
application under 49 U.S.C. 14303 to acquire control of

[[Page 10333]]

Lakefront Lines, Inc. (Lakefront), and Hopkins Airport Limousine 
Service, Inc. (Hopkins), both of which are federally regulated motor 
carriers of passengers. Persons wishing to oppose this application must 
follow the rules at 49 CFR 1182.5 and 1182.8. The Board has tentatively 
approved the transaction, and, if no opposing comments are timely 
filed, this notice will be the final Board action.

DATES: Comments must be filed by April 11, 2008. Applicants may file a 
reply by April 28, 2008. If no comments are filed by April 11, 2008, 
this notice is effective on that date.\1\
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    \1\ In their application, Applicants request expedited handling 
of the application, and request that the Board publish the notice 
within 25 days to enable the parties to minimize the risk of further 
credit market disruption, reduce uncertainty felt by workers, and to 
ensure the benefits of the transaction, including enhanced customer 
service levels.

ADDRESSES: Send an original and 10 copies of any comments referring to 
STB Docket No. MC-F-21025 to: Surface Transportation Board, 395 E 
Street, SW., Washington, DC 20423-0001. In addition, send one copy of 
comments to the applicants' representatives: Charles A. Spitulnik and 
Allison I. Fultz, KAPLAN KIRSCH & ROCKWELL LLP, 1001 Connecticut 
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Avenue, NW., Suite 905, Washington, DC 20036.

FOR FURTHER INFORMATION CONTACT: Julia M. Farr, (202) 245-0359 [Federal 
Information Relay Service (FIRS) for the hearing impaired: 1-800-877-
8339].

SUPPLEMENTARY INFORMATION: Fenway is a Delaware limited partnership 
associated with Fenway Partners, Inc. (Fenway Partners), a private 
equity firm that invests in numerous different businesses, including 
other transportation-related entities, through various limited 
partnerships and other investment entities. Fenway Partners has $2.1 
billion under management. Fenway owns over 70% of the stock of Coach 
America.
    Coach America, a noncarrier Delaware corporation, controls 29 motor 
carriers of passengers through its subsidiaries, Coach America Group, 
Inc., and KBUS Holdings, LLC.\2\
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    \2\ Fenway and Coach America have also filed an application 
under 49 U.S.C. 14303 to acquire control of Renzenberger, Inc., a 
Kansas corporation and a federally regulated motor carrier of 
passengers, in Fenway Partners Capital Fund III, L.P., and Coach 
America Holdings, Inc.--Control--Renzenberger, Inc., STB Docket No. 
MC-F-21024.
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    Lakefront, an Ohio corporation, is a federally regulated motor 
carrier (USDOT Number 120685 and ICC MC/MX 121599) that provides 
interstate and intrastate passenger transportation service. All of the 
issued and outstanding stock of Lakefront is owned by Jack Goebel, Mike 
Goebel, and Thomas Goebel, with a small number of preferred non-voting 
shares owned by other Goebel family members. Hopkins, an Ohio 
corporation, is also a federally regulated motor carrier (USDOT Number 
1213222) that provides interstate and intrastate passenger 
transportation service. Hopkins is a sister company of Lakefront and is 
also owned by the Goebel family
    Coach America will establish Lfrnt Acq Corp. (Lfrnt), a Delaware 
corporation and wholly owned subsidiary of Coach America. Lfrnt will 
purchase 100% of the issued and outstanding capital stock of Lakefront 
and Hopkins. Lfrnt will manage the newly acquired companies. No 
operating authorities will be transferred as a result of the 
transaction. Lakefront and Hopkins had gross operating revenues for the 
12-month period ending December 31, 2007, greater than the $2 million 
threshold required for Board jurisdiction (combined gross revenues of 
approximately $34 million in 2007).
    Under 49 U.S.C. 14303(b), the Board must approve and authorize a 
transaction found to be consistent with the public interest, taking 
into consideration at least: (1) The effect of the transaction on the 
adequacy of transportation to the public; (2) the total fixed charges 
that result; and (3) the interest of affected carrier employees.
    Applicants have submitted information, as required by 49 CFR 
1182.2, including the information to demonstrate that the proposed 
transaction is consistent with the public interest under 49 U.S.C. 
14303(b). They state that the proposed transaction will have no impact 
on the adequacy of transportation services available to the public, 
that the proposed transaction will not have an adverse effect on total 
fixed charges, and that there will be no material adverse impact on the 
employees of the Coach America-controlled carriers. Additional 
information, including a copy of the application, may be obtained from 
the applicants' representative.
    On the basis of the application, we find that the proposed 
acquisition of control is consistent with the public interest and 
should be authorized. If any opposing comments are timely filed, this 
finding will be deemed vacated, and unless a final decision can be made 
on the record as developed, a procedural schedule will be adopted to 
reconsider the application. See 49 CFR 1182.6(c). If no opposing 
comments are filed by the expiration of the comment period, this notice 
will take effect automatically and will be the final Board action.
    Board decisions and notices are available on our Web site at: 
http://www.stb.dot.gov.
    This decision will not significantly affect either the quality of 
the human environment or the conservation of energy resources.
    It is ordered:
    1. The proposed finance transaction is approved and authorized, 
subject to the filing of opposing comments.
    2. If timely opposing comments are filed, the findings made in this 
notice will be deemed as having been vacated.
    3. This notice will be effective April 11, 2008, unless timely 
opposing comments are filed.
    4. A copy of this notice will be served on: (1) The U.S. Department 
of Transportation, Federal Motor Carrier Safety Administration, 1200 
New Jersey Avenue, SE., Room 8214, Washington, DC 20590; (2) the U.S. 
Department of Justice, Antitrust Division, 10th Street & Pennsylvania 
Avenue, NW., Washington, DC 20530; and (3) the U.S. Department of 
Transportation, Office of the General Counsel, 1200 New Jersey Avenue, 
SE., Washington, DC 20590.

    Decided: February 20, 2008.

    By the Board, Chairman Nottingham, Vice Chairman Mulvey, and 
Commissioner Buttrey.
Anne K. Quinlan,
Acting Secretary.
 [FR Doc. E8-3580 Filed 2-25-08; 8:45 am]
BILLING CODE 4915-01-P