CVC DIF is acquiring a US student transportation operator from Access Holdings for an unspecified sum.
The Infrastructure manager said its DIF Infrastructure VII fund has agreed to buy American Student Transportation Partners (ASTP).
Established in 2021, ASTP provides a network of contracted student transportation solutions across the Northeast and Midwest US.
Gijs Voskuyl, managing partner and head of CVC DIF, said: “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. “We recognise 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.”
Tod Eskra, ASTP CEO, said: “Over the past four years, our partnerships and dedicated team has helped us grow from a small, regional operator into a national modern leader.
“We look forward to continuing our growth journey with CVC DIF, knowing we are supported by a leading infrastructure investor with a thoughtful strategy.”
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