1-800-AutoTow(TM) Retains GMA Partners, Inc.
3 May 1999
1-800-AutoTow(TM) Retains GMA Partners, Inc.BOYNTON BEACH, Fla., April 30 -- 1-800-AutoTow(TM) (OTC Bulletin Board: AUTW), a company in the process of a consolidation or "build-up" of America's vehicle towing industry into a national brand, announced today it has retained GMA Partners, Inc., a registered NASD member firm, to provide financial advisory and investment banking services. Upon completion of the best efforts financing by GMA, and the simultaneous acquisition of additional towing companies, GMA President Troy Taylor will assume the role of 1-800-AutoTow(TM) Chairman of the Board of Directors. Mr. Taylor has over 14 years of investment and merchant banking experience, primarily in mergers and acquisitions, and public and private capital raising. "By engaging GMA, we have retained experienced advisors with valuable expertise in the capital markets and successfully growing companies through acquisitions," said 1-800-AutoTow's acting Chairman, CEO and President, Joel Nagelmann. "We've seen an overwhelming acceptance of our strategy within the towing industry, and a tremendous number of quality towing companies ready, willing, and able to sell; and GMA will help take us to the next level." GMA Partners, Inc. is a leading merchant and investment banking firm based in Atlanta, Georgia. The GMA principals have over 60 years of combined experience working with growing companies, and have completed over 3.6 billion in transactions during their careers. "We are excited about the opportunity to become involved with 1-800-AutoTow(TM) and its impressive management team," said GMA President Troy Taylor. "The towing industry dynamics are such that 1-800-AutoTow's strategy is very attractive." 1-800-AutoTow's business plan is to acquire vehicle towing companies in metropolitan areas across the country, and then consolidate their operations into a single branded identity. 1-800-AutoTow(TM) is one of three national consolidators rolling up America's fragmented vehicle towing and recovery industry. The other two include United Road Services, Inc. and Miller Industries. Founded in 1997, 1-800-AutoTow(TM) is based in Boynton Beach, Florida. The company's management team consists of a diverse and experienced group of entrepreneurs, senior operating executives and towing veterans. More information is available on the Internet at http://www.1800autotow.com. Certain statements and information included in this release constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of 1-800-AutoTow(TM) to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements.