Yesterday, CVC DIF, the infrastructure strategy of global private markets manager CVC Capital Partners, announced it has agreed to acquire American Student Transportation Partners (ASTP).

According to a company release, "In partnership with CVC DIF, ASTP will leverage its strong foundations to continue delivering operational and service excellence to the communities in its existing markets, as well as expanding into other U.S. markets to deliver reliable transportation to new regions."

Team Reactions

“Over the past four years, our partnerships and dedicated team has helped us grow from a small, regional operator into a national modern leader,” said ASTP CEO Tod Eskra. “We look forward to continuing our growth journey with CVC DIF, knowing we are supported by a leading infrastructure investor with a thoughtful strategy.” 

“The partnership with ASTP and the management team represents CVC DIF’s commitment to investing in infrastructure that is essential to the communities that they serve," said Gijs Voskuyl, managing partner and head of CVC DIF. "We recognize the importance of safe, reliable and sustainable school transportation in shaping strong educational outcomes, and value the opportunity to partner with the experienced team at ASTP. Furthermore, we believe this investment aligns seamlessly with DIF Infrastructure VII’s strategy of investing in high quality infrastructure investments that provide stable long-term cash flows with attractive risk-adjusted returns.”

“We identified a strong data-led thesis to develop a modern transportation services platform using advanced analytics to better address customer needs," said Kevin McAllister, founder and managing partner of Access Holdings. "We delivered on this vision through our partnership with ASTP, mapping the market and executing where the services were needed most, resulting in significant geographic expansion and revenue growth that supported the platform’s evolution. I am proud of the execution from all involved, and we are grateful for our partnership with Tod Eskra, Jim O’Brien, Jeff Ellis, Phil Eades, and the entire ASTP team. We look forward to seeing the team’s continued success.”

About ASTP

ASTP was established in 2021 following the acquisition of Krise Transportation, and provides contracted student transportation solutions across the Northeast and Midwest.

The company grew from serving seven school districts with 435 vehicles in 2021 to serving over 50 school districts with over 2,300 vehicles across three states today.