I Squared Capital has reached an agreement with Mobico Group to acquire its school bus division, National Express School (NEXS).
NEXS is one of the largest student transportation companies in North America, with more than 100 years of experience in the industry and a renowned history of safe, reliable transportation service. NEXS operates across 34 states and two provinces, serving more than 400 school districts and transporting more than 1.2 million students daily.
The acquisition, which is anticipated to close in the third quarter of this year, will involve all brands associated with NEXS, which includes Durham School Services, Petermann Bus and Stock Transportation.
“This transfer of ownership will allow us to stand on a much stronger financial foundation for a wider spectrum of new opportunities and growth to benefit our stakeholders, valued partners and prospects, as well as reinforce our position as a transportation leader and flourish to even greater he
