PLYMOUTH, MA, ISSUED JULY 26, 2019…It’s official: Plymouth & Brockton Street Railway Company, has three new owners.
This independent, family-owned transportation business which has served the South Shore, Cape Cod, and Greater Boston area since 1888, is now under the ownership of three local business people who plan expansions and improvements.
Pembroke, MA entrepreneur Winthrop Sargent confirmed today that he and partners John Cogliano of Canton and Paul Fuerst of Mansfield successfully completed the transaction which transfers ownership to the trio from the Anzuoni family, which has owned and operated the company for more than 70 years.
Sargent, founder and principal of Winthrop Capital, is the majority shareholder in the company and will serve as Plymouth & Brockton’s Chairman/CEO.
His partners include John Cogliano, former Massachusetts Secretary of Transportation and Chairman of the Massachusetts Turnpike Authority, and Paul Fuerst, of Fuerst & Associates, P.C., a CPA tax advisory firm with offices in Norwood and Boston, MA.
The acquisition also includes two other companies previously under the ownership of the Anzuoni family: Brush Hill Transportation, located in Randolph; and McGinn Bus Company of Lynn, MA. The sale price of the acquisition was not disclosed.
The firm’s current 100+ employees will remain with the business. Additionally, Sargent said that the key members of the Anzuoni family including Christopher, Carol and Stephen Anzuoni, will remain with the firm in leadership roles. The trio is the second generation of family leadership; the first generation consists of George Anzuoni and his brother, Richard. Both will serve on the company’s Board of Advisors.
Sargent said that he and his partners anticipate implementing a number of improvements, including modernizing the fleet of buses and other vehicles, upgrades to the technology both on the vehicles and throughout the company, the establishment of new routes, and, in general, a look at how the companies together can further improve service to the region.
Sargent said, “Plymouth & Brockton has been a staple of transportation for the region for more than 130 years. We view P&B, as well as Brush Hill and McGinn, as having tremendous potential to help reduce the frustration that commuters feel because of gridlock.” He said, “We all know that there is a tremendous need for transportation alternatives in and around Boston. We see these companies as having established a strong foundation that we will build upon. We think the public will like the improvements that we plan.”
He continued, “John, Paul and I thank the Anzuoni family for the good work and their thoughtful stewardship of Plymouth & Brockton Street Railway Company. We are pleased to have the Anzuoni family and their team on board and we look forward to together making Plymouth & Brockton, Brush Hill and McGinn the go-to source for everyone’s transportation needs.”
Sargent and his partners bring considerable business experience and talent to this new venture. Sargent is the principal of Winthrop Capital Advisors, which works with banks, accounting firms and other professional services. The firm’s core services have included providing interim CFO service in an advisory role or in the repair of a company’s financials, or business systems, as well as underwriting, structuring and placement of both debt and equity capital, and working with firms in the mergers and acquisitions space.
John Cogliano is the former Secretary of Transportation for Massachusetts, and served as Commissioner of the Massachusetts Highway Department from 2002 to 2005. As Commissioner, he managed more than 1,800 employees and a budget of $700 million.
Paul Fuerst brings a wealth of accounting and business experience to the venture. He has been in public accounting for over 26 years and has held ownership positions in several accounting firms for more than a dozen years. He founded his own firm, Fuerst & Associates, P.C. in 2016.
About Plymouth & Brockton Street Railway Company
Plymouth & Brockton Street Railway Company and its sister companies, Brush Hill Transportation and McGInn Bus Company is now under the ownership of Winthrop Sargent, John Cogliano and Paul Fuerst. The three businessmen purchased the company in July 2019 from the Anzuoni family of Plymouth.
The Anzuoni family purchased Plymouth & Brockton Street Railway Company in 1948, two decades after P&B had converted from rail to bus transportation. Under their ownership, the company grew to provide expanded transportation service to and from Cape Cod and across the South Shore, express service to Logan Airport and the re-introduction of trolley service in Plymouth.
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