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October 01, 2007  |   Comments (0)   |   Post a comment

STC acquires Elliott companies

TORONTO — Student Transportation of Canada (STC) has acquired the Elliott companies, a group of Ontario school bus operations.

The deal adds more than 230 vehicles, three locations and $12 million CAD ($11.4 million USD) in annualized revenue to STC, which is an operating subsidiary of Wall, N.J.-based Student Transportation of America.

The Elliott group comprises Fred Elliott Coach Lines Ltd. in Guelph, Elliott Coach Lines Ltd. in Fergus and Elmira Bus Lines in Elmira.

Denis Gallagher, chairman and CEO of STC, said that the acquisition would increase STC’s Canadian dollar operating cash flows and add to the company’s regional density outside of the greater Toronto area.

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