Simpson Thacher is representing First Transit, a portfolio company of EQT Infrastructure and a provider of passenger transportation and vehicle maintenance services, and EQT in connection with First Transit’s definitive agreement to be acquired by Transdev North America, a provider of public transportation and mobility services and the North American subsidiary of Transdev Group S.A. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close early in 2023. Financial terms of the transaction were not disclosed.
First Transit has more than 60 years of experience and is one of the largest private-sector providers of mobility solutions in North America, moving more than 300 million passengers annually. First Transit provides operation, management, and consulting for more than 300 locations in 41 states, four Canadian provinces, and Puerto Rico for transit authorities, state departments of transportation, municipalities, universities, airports and private companies.
EQT is a purpose-driven global investment organization with EUR 77 billion in assets under management as of 30 June 2022, across 36 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 280,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
The Simpson Thacher Team includes Michael T. Holick, Naveed Anwar, Frederick W.P. de Albuquerque, Megan Whitman, Matthew Walls and Katherine Nelson (M&A); Eli Isak and Dorothy Hector (Credit); Jonathan Goldstein, Scott Grundei and Zev Klein (Tax); Jeannine McSweeney, Gary Tashjian, Falguni Joshi and Joshua Stephens (ECEB); Lori Lesser, Melanie Jolson and Suyoung Jang (IP); Sara Razi and Nicholas Ingros (Antitrust); Hui Lin (Capital Markets); Robert Lee, Vandana Harris and William Smolinski (Private Funds); and Krista McManus and Dennis Loiacono (Real Estate).