Goldner Hawn Exits North America Central School Bus

Goldner Hawn LP (“Goldner Hawn”) announced the sale of North America Central School Bus (“NAC School Bus” or the “Company”), a national provider of student transportation to a leading infrastructure investment firm. The terms of the transaction were not disclosed.

Headquartered in Joliet, Illinois, NAC School Bus currently operates a fleet of approximately 3,000 buses across nine states, primarily in the Midwest. The Company’s fleet provides transportation for both regular education and special education students, as well as charter services, to roughly 90 school district customers.

“I am proud of NAC School Bus’s successes to date. Our accomplishments are primarily the result of the tireless efforts of our dedicated team members,” said Steve Hemmerlein. “This transaction is a validation of our commitment to servicing our customers, parents and guardians, and students alike, and our commitment to getting students to and from school safely.”

Pete Settle, Goldner Hawn Partner, added, “NAC School Bus has done an excellent job growing organically and consistently achieving strong customer retention rates. Additionally, the Company maintains an impeccable safety record of transporting students to and from school. We wish Steve and his team continued success in the Company’s next growth phase.”

“We are pleased to partner with NAC School Bus in the next phase of its operations and growth,” said Ed Pallesen, Managing Director and Co-Head of H.I.G. Infrastructure. “The Company has an excellent track record of providing an essential service to its clients and stakeholders. We believe there is a compelling opportunity to support management in growing the business, including through geographic expansion, and leading the transition to next-generation bus technology. In addition to maintaining the Company’s excellent operational and safety record, we look forward to advancing fleet electrification initiatives in support of customer objectives and the transition to environmentally friendly, decarbonized modes of transportation.”

BMO Capital Markets Corp. served as financial advisor and Faegre Drinker Biddle & Reath LLP served as legal counsel to NAC School Bus. Jefferies LLC served as financial advisor and Ropes & Gray LLP served as legal counsel to the buyer.

About Goldner Hawn
Goldner Hawn was founded in 1989 in Minneapolis, Minnesota and has been a source of private capital to leading lower middle market companies for over 30 years. With an investment philosophy centered on the principle of partnership, Goldner Hawn seeks to back management teams of businesses with $5 million to $20 million of EBITDA in industries including specialty industrial manufacturing, value-added distribution, consumer products and services, and outsourced business services. Goldner Hawn has made over 100 platform and add-on investments in companies with total transaction values exceeding $4 billion. For more information, call 612-338-5912 or visit goldnerhawn.com.