Parties
Company
Transdev North America Inc.
Company
First Transit Topco Inc.
Company
EQT Infrastructure
On October 26, 2022, First Transit Topco Inc., a leading provider of passenger transportation and vehicle maintenance services, signed a definitive agreement to be acquired by Transdev North America Inc., a subsidiary of Transdev Group S.A. Founded in 1955 and based in Cincinnati, Ohio, First Transit serves 300 million passengers annually across 300 North American locations. This acquisition follows significant investments made by EQT Infrastructure since acquiring First Transit in July 2021 from FirstGroup plc. These investments have enhanced the company's operations and digital technology platform. The deal is expected to close in early 2023, pending customary approvals and conditions.
Financial terms of the transaction were not disclosed. Barclays Capital Inc. acted as the lead financial advisor to EQT Infrastructure and First Transit, with BMO Capital Markets Corp. also providing financial advisory services. Legal counsel for First Transit was provided by Simpson Thacher & Bartlett LLP, with Bennett Jones serving as Canadian counsel. Transdev was advised by Debevoise & Plimpton LLP.
Deal Type
Merger & AcquisitionIndustry
TransportationTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
07 March 2023