M&A Deal Summary

H.I.G. Private Equity Acquires North America Central School Bus

On August 2, 2021, private equity firm H.I.G. Private Equity acquired transportation company North America Central School Bus from Goldner Hawn Johnson & Morrison

Acquisition Highlights
  • This is H.I.G. Private Equity’s 13th transaction in the Transportation sector.
  • This is H.I.G. Private Equity’s 196th transaction in the United States.
  • This is H.I.G. Private Equity’s 13th transaction in Illinois.

M&A Deal Summary

Date 2021-08-02
Target North America Central School Bus
Sector Transportation
Buyer(s) H.I.G. Private Equity
Sellers(s) Goldner Hawn Johnson & Morrison
Deal Type Secondary Buyout
Advisor(s) BMO Capital Markets (Financial)
Faegre Drinker Biddle & Reath (Legal)

Target

North America Central School Bus

Joliet, Illinois, United States
North America Central School Bus is a national provider of student transportation services. The Company provides home-to-school bus services during the academic year for public schools, school charter services, and non-school charter services. North America Central School Bus was founded in 2004 and is based in Joliet, Illinois.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 296 of 370
Sector (Transportation) 13 of 18
Type (Secondary Buyout) 42 of 68
State (Illinois) 13 of 18
Country (United States) 196 of 246
Year (2021) 23 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 Quick

Aubervilliers, France

Quick is a burger fast-food chain that serves more than 36 million meals per year from a network of 107 restaurants. Quick Restaurants was founded in 1968 and is based in Aubervilliers, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-09 Bluebird

Minneapolis, Minnesota, United States

Bluebird is a retail services and consulting firm serving innovative and beloved brands. The company provides strategic planning, operations consulting, account management, digital optimization, and data analytics necessary for brands to execute and optimize retail sales. Bluebird was founded in 2015 and is based in Minneapolis, Minnesota.

Buy -

Seller(S) 1

SELLER

Goldner Hawn Johnson & Morrison

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 825M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Goldner Hawn Johnson & Morrison (GHJ&M) is a private equity firm that targets middle market companies in the Midwest US. GHJ&M generally looks for businesses valued between $20 and $150 million and looks to invest between $10 to $25 million of equity capital per transaction. Sectors of interest include agribusiness, food, power generation, basic materials, medical products, consumer products, retail, restaurants, consumer services, business services, and industrials. GHJ&M prefers control investments, but in certain instances, the Firm will also consider minority positions. GHJ&M was formed in 1989 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 31 of 33
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 12 of 14
State (Illinois) 2 of 2
Country (United States) 31 of 33
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 Applied Adhesives

Minnetonka, Minnesota, United States

Applied Adhesives is a distributor of adhesives, dispensing equipment, assembly automation systems, and production tools. Applied Adhesives was founded in 1971 and is based in Minnetonka, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Terra Firma

Towson, Maryland, United States

Terra Firma is a specialty chemical distributor across CASE, construction, plastics, and other end markets. Terra Firma is based in Towson, Maryland.

Buy -