It’s official: Plymouth & Brockton Street Railway Company, has three new owners.
The 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 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. Cogliano is former Massachusetts Secretary of Transportation and chairman of the Massachusetts Turnpike Authority, and Fuerst, of Fuerst & Associates, P.C., is a CPA tax advisory firm with offices in Norwood and Boston.
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-plus 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.
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.
“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.”