M&A Deal Summary

Transdev S.A. Acquires First Transit

On October 26, 2022, Transdev S.A. acquired transportation company First Transit from EQT

Acquisition Highlights
  • This is Transdev S.A.’s 5th transaction in the Transportation sector.
  • This is Transdev S.A.’s 3rd transaction in the United States.
  • This is Transdev S.A.’s 1st transaction in Ohio.

M&A Deal Summary
Date 2022-10-26
Target First Transit
Sector Transportation
Buyer(s) Transdev S.A.
Sellers(s) EQT
Deal Type Add-on Acquisition
Advisor(s) Barclays Investment Bank
BMO Capital Markets (Financial)
Simpson Thacher & Bartlett (Legal)

Target

First Transit

Cincinnati, Ohio, United States
First Transit is a public transit management operator that transports over 300 million passengers annually across around 300 locations in North America. First Transit provides essential mobility services to communities, college campuses, businesses, and elderly care facilities that are economical, safe, and environmentally friendly. First Transit was founded in 1955 and is based in Cincinnati, Ohio.

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Buyer(S) 1

Buyer

Transdev S.A.

Paris, France
Category Company
Founded 1983
Sector Transportation
DESCRIPTION

Transdev S.A., is a multi-modal company, provides intermodal and integrated public transportation services for passengers and local government authorities in France and internationally.

DEAL STATS #
Overall 5 of 5
Sector (Transportation) 5 of 5
Type (Add-on Acquisition) 5 of 5
State (Ohio) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-13 Tandem Technologies

Ludlow, Massachusetts, United States

Tandem Technologies is a provider of car service booking and management software to corporate customers. Tandem Technologies is based in Ludlow, Massachusetts.

Sell -

Seller(S) 1

SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 166 of 187
Sector (Transportation) 5 of 7
Type (Add-on Acquisition) 66 of 73
State (Ohio) 1 of 1
Country (United States) 21 of 27
Year (2022) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-28 Billtrust

Lawrenceville, New Jersey, United States

Billtrust is a provider of cloud-based payment cycle management solutions. Billtrust helps companies automate and accelerate their accounts receivable (AR) processes to increase cash flow, improve operational efficiency, and drive customer satisfaction. Billtrust was established in 2001 and is based in Lawrenceville, New Jersey.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Certara

Princeton, New Jersey, United States

Certara engages in model-informed drug development and regulatory science, focused on optimizing drug development and improving health outcomes. Certara was founded in 2008 and is headquartered in Princeton, New Jersey.

Sell -
Mergr

Product

Company

Legal