- ASTP safely transports over 90,000 students every school year across the Northeast and Midwest US through its diversified fleet of 2,300+ vehicles
- The partnership with CVC DIF will allow ASTP to expand its services to a larger number of school districts, enhancing access to education across the K-12 segment
CVC DIF, the infrastructure strategy of leading global private markets manager CVC Capital Partners, is pleased to announce it has agreed to acquire American Student Transportation Partners (“ASTP”), a premier US student transportation operator, from Access Holdings, a private equity firm focused on the lower-middle market. The investment will be made through DIF Infrastructure VII.
Established in 2021, ASTP provides a robust network of contracted student transportation solutions across the Northeast and Midwest United States. Since inception, it has developed into a leading multi-state operator through its contracted route-based model. ASTP has a proven track record, delivering high-quality mission-driven student transportation solutions to over 50 school districts and providing access to education through safe and reliable transportation programs. ASTP serves school districts and its communities through an owned fleet of over 2,300 technology-enabled school buses and passenger vans.
In partnership with CVC DIF, ASTP will leverage its strong foundations to continue delivering operational and service excellence to the communities in its existing markets, as well as expanding into other US markets to deliver reliable transportation to new regions.
“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 recognize 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” said Gijs Voskuyl, Managing Partner and Head of CVC DIF. “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.”
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.
Gijs Voskuyl Managing Partner and Head of CVC DIF
“Over the past four years, our partnerships and dedicated team has helped us grow from a small, regional operator into a national modern leader,” said ASTP Chief Executive Officer Tod Eskra. “We look forward to continuing our growth journey with CVC DIF, knowing we are supported by a leading infrastructure investor with a thoughtful strategy.”
BMO Capital Markets Corp. served as exclusive financial advisor to CVC DIF in connection with the transaction.