Transdev Group has signed an agreement to acquire First Transit, “creating an even stronger innovation-driven provider of sustainable mobility and public transportation services in the U.S. and Canada”, the France-based multinational company says.

In 2021 FirstGroup agreed terms were to sell the business to EQT Infrastructure.

Transdev says it intends to further invest in First Transit while providing its expertise in carbon footprint reduction. The transaction is subject to customary closing conditions and approvals in the U.S. and Canada.

Transdev to take over First Transit

Such transaction “will also unlock further growth potential in the ongoing energy transition towards cleaner Zero Emission Vehicle fleets for the public bus sector. The new entity’s focus on innovation will notably see a growing share of electric buses, further contributing to the reduction of its carbon footprint. Transdev’s Moving Green decarbonization strategy targets, by 2030, a 30% reduction in greenhouse gas emissions and a 50% increase in alternative fuel fleets (gas, biogas, biofuels, electric, hydrogen) versus 2018 levels”.

The announcement continues: “Together, Transdev and First Transit will be better positioned to provide safe, cost-effective and environmentally-friendly public transportation services across a variety of transit modes including Fixed Route Bus, Paratransit, Shuttle, Rail, Light Rail and Fleet Maintenance. The transaction will enhance Transdev and First Transit’s ability to support public transit authorities in the U.S. and Canada in the energy transition towards decarbonization, as well as provide affordable mobility solutions to local communities”.

Thierry Mallet, Chairman and CEO of Transdev Group comments: “By joining forces with First Transit, Transdev will be adding new services and expertise to its U.S. and Canada operations. It is also aligned with Transdev Group’s Moving Green decarbonization strategy, and shows our willingness to continue investing in operational technology and fleet decarbonization to provide even safer and more environmentally-friendly transportation services to communities in the two countries”.

Highlights

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