Naples Firm Buys Aspen Luxury Transportation Business

Fresh off the purchase of an Illinois dairy out of bankruptcy and a Michigan cruise company, The Hoffman Family of Cos., based in Naples, has announced another acquisition.

This latest deal is for CTS Aspen, a luxury ground transportation vendor based in the high-end Colorado ski resort town. Terms of the deal weren’t disclosed.

This acquisition, say HF Cos,. officials in the release, “further strengthens HF Companies' Transportation Division, expanding its reach as a nationwide vendor in the transportation industry.”

CTS handles weddings, corporate and special events, operating 24/7 with a fleet of multiple vehicles, including SUVs, mini-buses and mini coaches. The firm, the release states, “holds a dominant market share locally, with over 90% of inquiries coming through referrals via phone and email.”

"CTS is a great addition to our family of companies and will continue to support our other Aspen-based destination management company, RMC DMC, as well as all luxury transportation and logistical needs in the highly affluent Aspen area,” Director of HF Cos. Tamir Rankow says in the release.

HF Cos is a multi-vertical, family-owned private equity firm consisting of over 100 global brands, and employs 11,000 employees with businesses in 30 countries and 400 locations worldwide. 

By: Mark Gordon I Business Observer Florida I July 22, 2024