M&A Deal Summary

First Student Acquires Apple Bus Company

On February 24, 2022, First Student acquired transportation company Apple Bus Company from Great Range Capital

Acquisition Highlights
  • This is First Student’s 2nd transaction in the Transportation sector.
  • This is First Student’s 1st transaction in the United States.
  • This is First Student’s 1st transaction in Missouri.

M&A Deal Summary

Date 2022-02-24
Target Apple Bus Company
Sector Transportation
Buyer(s) First Student
Sellers(s) Great Range Capital
Deal Type Add-on Acquisition

Target

Apple Bus Company

Cleveland, Missouri, United States
Apple Bus Company is a provider of student and charter transportation services to more than 80 school district customers across North America with a fleet of approximately 1,500 buses. Apple Bus Company was founded in 2000 and is headquartered in Cleveland, Missouri.

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Buyer(S) 1

Buyer

First Student

Cincinnati, Ohio, United States

Category Company
Sector Transportation
Employees48,000
DESCRIPTION

First Student is a student transportation service provider in North America, providing over 900 million student journeys a year at approximately 1,000 school districts. The Company has 48,000 employees who operate a fleet of over 42,000 school busses and provide an essential service to North American students. First Student is based in Cincinnati, Ohio.


DEAL STATS #
Overall 2 of 4
Sector (Transportation) 2 of 4
Type (Add-on Acquisition) 1 of 3
State (Missouri) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-20 Autobus Campeau - Campeau Bus Lines

Brownsburg-Chatham, Quebec, Canada

Autobus Campeau, Inc.'s Campeau Bus Lines is a provider of transportation services in Ottawa and Bowmanville locations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-02 Total Transportation

Brooklyn, New York, United States

Total Transportation is an operator of a transportation company operating nearly 3,200 vehicles in New York, New Jersey, and Pennsylvania. Performing over 75,000 ADA trips per month and transporting approximately 100,000 school students per day. Total Transportation was founded in 1979 and is based in Brooklyn, New York.

Buy -

Seller(S) 1

SELLER

Great Range Capital

Mission Woods, Kansas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Great Range Capital is a private equity firm focused on acquiring controlling interests in mid-sized businesses in the Midwest. The Firm will consider a variety of transaction situations, including leveraged and management buyouts, recapitalizations, build-ups, growth financings, and structured equity deals. Great Range looks to invest in profitable (>$3 million of EBITDA) with minimum revenues of $10 million. Sectors of interest include business and industrial services, healthcare services/devices, retail and consumer, and niche manufacturing. Great Range Capital was formed in 2010 and is based in Mission Woods, Kansas.


DEAL STATS #
Overall 3 of 4
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Missouri) 1 of 1
Country (United States) 3 of 4
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Salon Service Group

Springfield, Missouri, United States

Salon Service Group is a full-service beauty supply distributor, offering professional brands directly to salons and salon stylists. Salon Service Group was founded in 1987 and is based in Springfield, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-28 Repairs Unlimited

Lenexa, Kansas, United States

Repairs Unlimited provides restoration services to insurance adjusters, home owners, and government and commercial customers. RUI’s unique approach, in which account representatives oversee every project from estimation to completion, provides unparalleled accountability and customer satisfaction. Repairs Unlimited was founded in 1986 and is based in Lenexa, Kansas.

Buy -