Carousel Capital announced today that it has partnered with management to recapitalize Expedited Travel (“Expedited” or the “Company”), a leader in expedited travel document processing services. Based in West Palm Beach, Florida, Expedited provides passport and travel visa expediting services and complementary solutions through its RushMyPassport, RushMyTravelVisa and G3 Visas and Passports brand names.
Founded in 2007 with the goal of making the process of obtaining expedited travel documents more efficient, Expedited offers its customers passport and travel visa processing in as little as 24 hours. The Company is a fully integrated e-commerce platform with nine strategically located offices throughout the U.S. that are supported by a national team of U.S. passport and travel visa specialists that undergo rigorous training. In addition, the Company operates a call center that operates seven days a week to ensure exceptional customer service throughout the application process. Expedited leverages its proprietary software to allow customers to track their orders through every step of the process from the moment documents leave their hands to the second they are delivered to their doorstep.
“We are thrilled to partner with the management team of Expedited Travel to help them achieve their strategic growth objectives,” said Jason C. Schmidly, a Managing Partner of Carousel Capital. “Expedited Travel’s commitment to unparalleled customer service and integrity has enabled the company to grow consistently since its founding and we are excited to continue this growth in the future.”
“We selected Carousel as our partner as a result of their proven track record of supporting and growing services businesses,” said Myron Miller, CEO and Co-Founder of Expedited Travel. “Carousel’s investment and support will enable us to broaden our service offering, enhance our technology platform and accelerate our growth as we continue to provide first class service to our customers and make passport and visa delivery as efficient as possible.”
Carousel Capital funded the transaction with equity from its fourth investment fund, Carousel Capital Partners IV, L.P. Financing was provided by Madison Capital Funding.
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 36 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.