Rural Market-Focused Private Equity Firm Joins Deal to Acquire Oklahoma-Based Home Health Transportation Company
BIRMINGHAM, Ala., March 15, 2021—Lowden Street Capital, a private equity firm focused on rural market investing, and Black Book Ventures, an investment and management company with a primary focus in healthcare, joined together as minority partners in a deal with Fernweh Ventures to acquire Classic Transportation, LLC, a medical transportation company serving the state of Oklahoma, in a deal finalized in November of 2020.
“Classic Transportation is a fantastic business; we’re excited to partner with Fernweh, who gets the credit for sourcing and completing this deal,” said Matt Bean, founder of Lowden Street Capital. “Given Fernweh’s mindset and strategy, we feel very comfortable with the deal. It’s also great to work with Justin, who has a great understanding of the healthcare industry.”
Founded in 2017 by Matt Bean, Lowden Street Capital is a private equity firm that focuses on small business buyouts in rural communities, assisting small business owners with transitioning their businesses from one generation to the next by offering investing, consulting, and other strategic services.
Founded in 2019 by Justin Thompson, Black Book Ventures is an investment and management company with a primary focus in healthcare. Black Book Ventures assists business owners with back office management, equity investment, and cash flow finance.
Bean and Thompson both hold Masters in Business Administration degrees from the Neeley School at Texas Christian University, and credit their education and time as classmates there for their venture enthusiasm and ability to partner together on this exciting acquisition.
“We were really excited to partner with Classic Transportation,” said Justin Thompson, President of Black Book Ventures. “Classic is a leader in the Oklahoma non-emergent transport space and presented a unique opportunity to invest in a growing company while helping the sick and elderly population connect with the world.”
Classic Transportation offers medical transportation services including ambulatory, wheelchair, and stretcher transportation. Licensed by the Oklahoma Department of Health, Classic Transportation has been serving the people of Oklahoma with great care and professionalism since 2017. Learn more about Classic Transportation at www.ClassicTransportationOK.com.
Lowden Street Capital is a private equity firm with offices in Alexander City, Ala. and Homewood, Ala. Lowden Street is strategically focused on rebuilding and developing mature and small businesses in rural markets. Learn more at www.LowdenStreet.com.
