A Group of Investors led by CDPQ’s Acquisition of Student Transportation Inc.

Scotiabank is acting as financial advisor to the Special Committee and providing a fairness opinion and Goodmans LLP is acting as legal counsel to the Special Committee and STI. BMO Capital Markets is acting as exclusive financial advisor to the Purchaser and Torys LLP is acting as legal counsel to the Purchaser. Debevoise & Plimpton LLP is advising Ullico Inc.

Student Transportation Inc. (TSX:STB) (NASDAQ:STB) entered into a definitive agreement with a company sponsored by Caisse de dépôt et placement du Québecand Ullico Inc. pursuant to which the Purchaser Group will acquire all of the Company’s outstanding common shares by way of a plan of arrangement under the Business Corporations Act (Ontario).

The Board of Directors of STI (the “Board”), after consultation with financial and legal advisors, and based on the unanimous recommendation of a special committee of the Board (the “Special Committee”) comprised entirely of independent directors, has unanimously approved the Arrangement, has unanimously determined that the Arrangement is in the best interests of the Company, and recommends that the Company’s shareholders vote in favour of the Arrangement.

Founded in 1997, STI is an industry leader in school transportation, safety and fleet services. STI operates more than 13,500 vehicles, providing customers with the highest level of safe and reliable student transportation, management, logistics and technology solutions throughout the U.S. and Canada. The company, led by Denis J Gallagher, Keith P Engelbert and John Dimaiolo, in 2017 recorded CAD$845 Million Revenues.

Debevoise & Plimpton LLP advised Ullico Inc. with a team including Kevin M. Schmidt (Picture), Douglas B. Buchanan QC and David A. Martinez.

Involved fees earner: Kevin Schmidt – Debevoise & Plimpton; David Martinez – Debevoise & Plimpton; Douglas Buchanan QC – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Ullico Inc.;


Author: Ambrogio Visconti