Student transportation provider First Student has signed a purchase agreement to acquire Total Transportation Corp. (TTC), a provider of general and special education student transportation, paratransit, and charter services throughout New York City, Upstate New York, and Philadelphia.
Founded in 1979 and headquartered in Brooklyn, New York, TTC has a 40-year history of delivering home-to-school transportation to more than 100,000 students in the New York metro area. The company operates 15 locations and a fleet of nearly 3,200 buses in urban and suburban markets across the tri-state area.
The acquisition of TTC represents a major milestone in First Student's growth by expanding First Student's geographic reach and service offerings in the Northeast.
"Total Transportation Corp. has more than 40 years of experience providing safe, reliable and high-quality service to the communities they serve," said First Student CEO and President John Kenning. "They have a deep understanding of the level of care required to meet their passengers' needs. We are proud to welcome TTC employees to our team. Working together, we can strengthen our commitment to provide the best possible bus-riding experience for school districts, organizations and families."
"By joining forces with First Student, we can build on our shared mission," said TTC CEO Agostino Vona. "Like TTC, First Student also invests heavily in driver training, equipment and technology to provide safe, comfortable and dependable transportation. We are excited to combine our expertise and resources to serve our passengers and customers better, and to lead the transition to electric school buses in support of customer and State objectives in New York."
Crosby Cook, partner at EQT Partners, said: "The acquisition of TTC enables First Student to enter a structurally attractive market in NYC with unique operational complexity, which TTC's seasoned management team has demonstrated a strong track record of successfully navigating over several decades. The combined organization offers unmatched national scale, resources, and capabilities that it will leverage to invest in next-generation technologies and fleet electrification initiatives to further its agenda of future-proofing the company and contributing to a cleaner, healthier, and safer environment."
The acquisition is subject to customary regulatory approvals and is expected to be completed by the end of summer.