Transdev completes acquisition of First Transit

March 7, 2023
The acquisition has gained all U.S. and Canadian regulatory approvals and the companies are operating as a single entity under the leadership of Laura Hendricks in the U.S. and Arthur Nicolet in Canada.

Transdev has successfully completed the acquisition of First Transit and, following all required regulatory approvals in the United States and Canada, the entities are operating as one company under the leadership of Laura Hendricks, CEO of Transdev U.S., and Transdev Canada CEO Arthur Nicolet.

“The acquisition of First Transit is a major strategic milestone for Transdev, significantly reinforcing our group’s competitive position in North America. By combining our strengths, our expertise, our local presence and our common values, we now become the leading operator of safe, affordable and eco-friendly public transportation services in both the U.S. and in Canada. Today, I am very proud and honored to welcome all our new colleagues into the Transdev Group,” said Transdev Group Chairman and CEO Thierry Mallet.

Transdev unveiled plans to acquire First Transit in October 2022 in a move Transdev says will enable it to become the “leading operator of safe, cost-effective and environmentally friendly public transportation services” in North America through the combination of the two entities’ expertise in transit, shuttle services, paratransit and fleet maintenance.

First Transit has been brought under the Transdev brand and the single, combined entity providing approximately 400 million passenger trips annually. The acquisition will also see Transdev operate, manage and maintain more than 440 sites in 43 U.S. states, Puerto Rico and six Canadian provinces for communities, schools, universities, airports and businesses. The combined company will employ more than 35,000 people, with a fleet of more than 20,000 vehicles (owned or operated) and will maintain an additional fleet of 39,000 vehicles and equipment across the United States, through a dedicated division.

Support for more sustainable operations

Transdev funded the acquisition of First Transit with its first sustainability-linked loan with its core banks.

Transdev explains the acquisition will enhance its ability to support public transit agencies in the U.S. and Canada in their energy transition towards decarbonization and the increased deployment of zero emission vehicle fleets. To date, Transdev operates or maintains more than 400 zero-emission electric vehicles in North America, with an additional 70 vehicles on order.

Transdev’s “Moving Green” decarbonization strategy targets a 30 percent reduction in greenhouse gas emissions per kilometer and a 50 percent increase in alternative fuel use on bus and coach fleets between 2018 and 2030. Transdev is set to operate a global fleet of 3,000 electric vehicles worldwide by year-end 2023.

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