Both VGM and Fast Track provide vehicles to Uber and Lyft drivers.
Voyager Global Mobility announced its acquisition of Fast Track Mobility on Nov. 8, increasing the company’s for-hire-vehicle operational footprint in New York City. The transaction was arranged by EA Markets with preferred equity from Prudential Private Capital, the private capital arm of PGIM Inc., the $1.3 trillion global investment management business of Prudential Financial, Inc.
Voyager Global Mobility operates in the global mobility industry that provides professionally managed and licensed vehicles to multiple sectors in two countries and 15 different cities. VGM operates in ride hailing, car sharing, government mobility, and other on-demand car sharing niches for companies such as Uber, Didi, Lyft, Via, Turo, and Getaround.
“VGM has been a friendly competitor with Fast Track for close to a decade and we are very excited to bring this operation under the VGM umbrella to synergistic benefit,” said Sam Jurkowicz, VGM’s co-founder and co-CEO.
Eric Rothman, founder, CEO, and president of Fast Track will stay on with the company through the end of 2021 to help with the transition and will serve in an advisory capacity thereafter. In 2017, Rothman was appointed to serve on the ACRA board and its Mobility Taskforce.
Sam Levine, managing partner of Bagnols Family Office Investment Partners, aadded: “EA Markets provided unparalleled advice and guidance throughout the entire transaction process, fostering a continued partnership with Prudential Private Capital. We have very significant growth plans as we expand globally, and EA will continue to be our trusted advisor throughout our journey because they have performed and earned our complete trust.”
EA Markets served as VGM’s arranger and financial advisor in negotiating financing within VGM’s capital structure and advising the company throughout the merger and acquisition process. This is EA Markets’ fourth transaction with the company.