Switzer-CARTY Transportation, a student transportation company and a portfolio company of Terramont Infrastructure Partners, has acquired Roxborough Bus Lines. Financial terms were not disclosed.
The transaction makes Switzer-CARTY the third-largest student transportation operator in Canada and the sixth-largest in North America.
With the acquisition, Nick McRae, CEO of Roxborough, joins the Switzer-CARTY management team.
“We are grateful for Nick’s trust in the Switzer-CARTY mission and look forward to partnering and growing together,” said Terramont in a LinkedIn post.
In addition, a new group of top-tier institutional investors will support the continued growth of Switzer-CARTY and Terramont. Terramont thanked Manulife Investment Management and Siemens Financial Services for their continued support for and conviction in Switzer-CARTY and Terramont’s approach to growing and strengthening an industry leader.
“At Terramont, we employ a ho
