EQT Infrastructure-backed First Student to acquire Dufresne Group

• First Student is a student transportation service provider in North America
• It and First Transit were acquired by EQT Infrastruture in 2021
• The acquisition is expected to help expand First Student’s home-to-school operations in Eastern Canada

EQT Infrastructure-backed First Student has agreed to acquired Dufresne Group, a Montreal-based provider of school transportation, coach and transit passenger services. No financial terms were disclosed.

The  acquisition is subject to relevant contractual and regulatory nods.

First Student, headquartered in Cincinnati, Ohio, is a student transportation service provider in North America.

This acquisition of Dufresne is expected to help expand First Student’s home-to-school operations in Eastern Canada. Additionally, it will bring a fleet of 542 vehicles, providing service to nine education consortiums.

“Bringing together the best of the Dufresne Group and First Student’s industry-leading innovation will enhance the bus riding experience for our new student passengers in Eastern Canada,” said First Student CEO, and president John Kenning, in a statement.

EQT Infrastructure acquired First Student and First Transit in 2021.

Headquartered in Stockholm, Sweden, EQT is a global investment organization focused on active ownership strategies. It firm has offices worldwide, including in New York.

KPMG served as the financial and tax advisor on the deal and McCarthy Tetrault provided legal counsel.