First Student and Total Transportation Corp. Satisfy All Regulatory Approvals for Completion of Acquisition Agreement

CINCINNATI, June 30, 2022 /PRNewswire/ -- First Student, the leading provider of essential student transportation to school districts in North America, today announced that it had obtained all required regulatory approvals necessary to close its pending acquisition of Total Transportation Corp. (TTC), a leading provider of general and special education student transportation, paratransit, and charter services throughout New York City, Upstate New York and Philadelphia.

Originally announced on May 2, 2022, the acquisition marks a significant step forward in First Student's growth with the addition of significant service offerings in the Northeast.

"We welcome TTC to the First Student family," said First Student Chief Executive Officer and President John Kenning. "Joining forces with TTC will create greater value for customers and employees.  It will enable us to enhance our industry-leading service and commitment to provide the best start and finish to the school day for the school districts and families we serve.  We are proud to be the most chosen student transportation provider in North America."

"We are pleased to be a part of the First Student team and build on our companies' shared mission of providing dependable transportation services," said TTC Chief Executive Officer Agostino Vona. "First Student's robust investments in cutting-edge technology, driver training, and fleet electrification will help our employees drive even more progress in our communities. Now part of the First Student family, we are eager to continue the work entrusted to us by school districts, parents, and many others across the region."

About First Student, Inc.

As a leading school transportation solutions provider in North America, First Student strives to provide the best start and finish to every school day. With a team of highly-trained drivers and the industry's strongest safety record, First Student delivers reliable, quality services, including full-service transportation and management, special-needs transportation, route optimization, and scheduling, maintenance, and charter services with a fleet of about 40,000 buses. For more information, please visit firststudentinc.com.

About Total Transportation Corp.

Total Transportation Corp. (TTC) is a fast-growing transportation company operating nearly 3,200 vehicles in New York, New Jersey and Pennsylvania.  Performing over 75,000 ADA trips per month and transporting approximately 100,000 school students per day, TTC and its management team have a broad range of experience in operating and managing transportation services. TTC's reputation in the industry of being a reliable and well-managed company has allowed them to complete start-ups quickly and smoothly as well as foster cohesive and collaborative relationships with their various municipalities. TTC's management team and staff are committed to providing distinctive and tailored services to address the individual needs and requirements of their clients. UHY LLP provided TTC financial advisory and due diligence support for this transaction.

SOURCE First Student