Keolis has acquired Tectrans from Huron Capital Partners
Lincoln International, a leading global mid-market investment bank, has announced that Keolis America Inc., the United States subsidiary of The Keolis Group (“Keolis”), has completed the acquisition of Tectrans, Inc. (“Tectrans”), a leading public transit operator in the U.S., from Huron Capital Partners. Lincoln International served as the exclusive financial advisor to Keolis. Terms of the deal were not disclosed.
Keolis Group now has an outstanding platform for future growth in the US in the transit and commuter rail businesses. With this acquisition, Keolis now has an annual turnover of $200 million in North America. Based in Los Angeles, CA, Tectrans, Inc., provides fixed-route and paratransit transportation, as well as airport, college and corporate shuttles. These activities represent 85% of Tectrans’ revenue. The company also has taxi operations and other transit-related services, such as call center management. Tectrans, which has been providing transportation solutions since the 1940s, operates more than 100 contracts throughout the United States, utilizing 1,525 vehicles and employing 1,400 staff. In a fragmented market, Tectrans represents a solid platform for development, thanks to its excellent reputation and to its skillful management team that comes to the company with experience from major transport companies. By integrating a group that has a deep knowledge in the transport sector with a stable structure and key expertise in technology, security and customer service, Tectrans now has enhanced growth prospects. Tectrans will be renamed “Keolis Transit America Inc.,” and will complement the already successful commuter rail business of Keolis America.
Arnaud Van Troeyen, Keolis Executive Vice-President International Development said “we are convinced this will be a successful partnership, combining our core business expertise of the bus and coach sector and Tectrans’ knowledge of the local markets. This acquisition is in complete alignment with our International expansion strategy, the US being at the heart of our priorities.”
Throughout the acquisition process, Lincoln International worked closely with Keolis to provide cross-border advisory expertise and assist in managing the due diligence phase of the transaction in both the U.S. and France. “Our transatlantic deal team worked closely with Keolis to assist in all aspects of the negotiations,” said Mike Iannelli, Managing Director of Lincoln International.
About The Keolis Group
The Keolis Group develops tailor-made mobility solutions to suit individual local requirements. The Keolis Group is a market leader in France and a major player on the public transport spectrum in Europe and worldwide. Established in 12 countries, the Group generated revenue of 4.1 billion euros in 2010 and employs 47,200 people.
About Tectrans Inc
Tectrans, Inc. is an award-winning provider of contracted transportation management and operations solutions serving more than 80 clients across the United States. The company is also a provider of on-demand and paratransit taxi transportation. Tectrans was included in the 2011 Inc. Magazine 500 | 5000 as one of the fastest growing private companies in America.
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