June 1, 2007
Kelley Drye represented clients Transervice Lease Corp., Transervice Logistics Inc., and TSFX Holding Corp. ("Transervice Companies"), and their stockholders Ed Flannigan and Dennis Schneider, in the closing of the sale of a controlling interest in the Transervice Companies to The ZS Fund L.P., a New York based private equity fund. The sale took over a year from letter of intent to consummation, and had significant legal hurdles in the areas of ERISA, tax, and transaction structuring. The Transervice Companies are engaged in the business of transportation logistics, vehicle leasing and vehicle maintenance throughout the United States and recently in Canada, providing services to a wide array of customers, such as The New York Times, Krogers, Walgreens, Bell Canada and Stroehmann Bakeries.