Carey International, Inc.
Carey International, Inc. (“Carey” or the “Company”) is a worldwide leading provider of chauffeured services and ground transportation logistics management with an exclusive global network of drivers spanning more than 1,000 cities worldwide. Carey operates a fleet of executive and luxury vehicles utilizing professional chauffeurs and a full portfolio of specialized transportation logistics management services, to address the needs of meetings and events, private aviation ground transportation and road shows.
In addition to competitive pressures from ride-sharing services such as Uber and Lyft, the Company experienced a sharp decline in ride volume due to the dramatic and far-reaching impact of COVID-19. In conjunction with the implementation of operational improvement and cost savings initiatives to stabilize the business, Carey began exploring available strategic alternatives to provide access to the capital necessary to weather the pandemic.
SSG was retained by Carey to complete a comprehensive valuation analysis to determine an estimated enterprise value of the Company. Operating within a compressed timeframe, SSG was able to complete a thorough due diligence review of the Company and prepare a detailed valuation report. Carey and its stakeholders were able to utilize SSG’s enterprise valuation and supporting analysis as they explored strategic alternatives and determined the optimal path forward to secure the future success of the Company.