WARRENVILLE, Ill. — National Express Group has signed an agreement to acquire Petermann Ltd.
National Express is the parent company of student transportation providers Durham School Services in the U.S. and Stock Transportation in Canada. Petermann is headquartered in Cincinnati and has operations across 10 states in the West, Midwest and Southwest.
Officials said the acquisition increases National Express’ fleet size to 20,000 buses across North America and strengthens the company’s position in the student transportation market.
“Petermann is a great strategic fit for our business. In addition to introducing us into new states, the company’s focus on safety, people, customers and communities is absolutely aligned with our core values,” said David Duke, CEO of National Express Corp. “Our company is in a steady growth mode on the heels of a successful business recovery plan; we look forward to welcoming Petermann employees and customers into our growing family.”
Pete Settle, CEO of Petermann, added that Petermann’s success has been built on the company’s core values, particularly a focus on its customers, and that in joining National Express, he knows “the focus on these values will remain.” He also noted that the acquisition offers “a great opportunity for both organizations.”
Settle will remain with the company and lead the North American transit division. This division will manage the paratransit operations currently operated by Petermann and will work to develop additional opportunities within the transit and paratransit markets.