The McLean Group Advises RideScout on its Acquisition by Daimler Subsidiary car2go
MCLEAN, VA – September 3, 2014 – The McLean Group today announced that it acted as a mergers and acquisitions (M&A) advisor to RideScout, a 1776 incubator company, on its sale to car2go North America LLC (car2go), a brand of moovel GmbH (moovel) and wholly-owned subsidiary of Daimler North America Corporation (Daimler). Financial terms of the deal were not disclosed.
RideScout’s mobile app enables iOS and Android users to search and compare real-time ground transportation options. Founded in 2011 by Army veterans, Joseph Kopser and Craig Cummings, RideScout is available in 69 North American cities and is actively expanding. Following the acquisition, RideScout will operate as a subsidiary of car2go and moovel at the Company’s headquarters in Austin, TX. Kopser and Cummings will continue to manage the business.
car2go is the largest, fastest-growing carsharing program in the world with more than 850,000 registered members in 26 cities across the globe. It is a brand of the mobile solutions provider, moovel and a subsidiary of Daimler (OTCMKTS: DDAIY), one of the largest producers of premium cars and the world’s largest manufacturer of commercial vehicles. Daimler’s current brand portfolio includes Mercedes-Benz, smart, Freightliner, Western Star, BharatBenz, Fuso, Setra and Thomas Built Buses. In 2013, Daimler sold 2.3 million vehicles and employed a workforce of 275,000 people; revenue totaled €118 billion and EBIT amounted to €10.8 billion.
“We are very pleased to welcome RideScout as a new member of the moovel family,” reports Robert Henrich, CEO at moovel. “The acquisition of RideScout pushes our global strategy a significant step forward. We are investing further in the development and growth of urban mobility in North America, Germany and other parts of the world. Our mutual objectives are the expansion of our leadership role on the international market and to continue our pioneering efforts to radically simplify the future of mobility.”
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The McLean Group is a leading independent investment bank that provides M&A, business valuation and strategic consulting services to middle market businesses. Our M&A advisory and valuation services reflect our comprehensive industry knowledge, extensive transactional successes, commitment to provide senior-level attention to every client engagement, and real-time understanding of industry-specific valuation drivers. Through our commitment to partnering with clients and providing strategic advice throughout every phase of a company’s development, The McLean Group is uniquely positioned to build lasting relationships and contribute measurable value to each client’s long-term success.