DATE: January 20, 2022
Connor, Clark & Lunn Infrastructure announces investment in Landmark Student Transportation
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) today announced the acquisition of a majority interest in Landmark Student Transportation (Landmark or the Company) – one of North America’s leading student transportation businesses. Landmark’s existing shareholders will retain a significant equity interest in the business and its current management team will continue to oversee its operations and growth.
Founded in 2010 by a group of industry veterans, Landmark provides essential student transportation services to local school districts and private educational institutions throughout rural and suburban markets in Canada and the United States. The Company has grown significantly in recent years, adding scale and a professional management approach to a relatively fragmented market. The business is well positioned for continued growth having built a reputation for excellence in both service delivery and customer responsiveness. Through its owned and managed fleet of more than 4,600 buses, Landmark safely and reliably delivers hundreds of thousand students to school each day.
“We are pleased to be expanding our portfolio of essential transportation businesses with this latest investment in student transportation,” said Matt O’Brien, President of CC&L Infrastructure. “This investment in Landmark is expected to provide CC&L Infrastructure and its clients with access to stable and resilient revenue streams contracted with a diversified customer base – adding further diversification to our portfolio and providing an attractive complement to the approximately 1.5 GW of clean energy assets that we own and operate.”
“Landmark’s leadership team has established a very successful business through their community-based approach, focus on reliable service and customer satisfaction,” added Ryan Lapointe, Managing Director of CC&L Infrastructure. “As long-term investors, CC&L Infrastructure is committed to supporting Landmark’s continued growth. We are excited to partner with Landmark’s management team and to advance forward-thinking initiatives such as fleet electrification.”
Kirk Flach, CEO at Landmark, noted, “We are excited to be working with the experienced team at CC&L Infrastructure. Like Landmark, they place a high value on employee and customer relationships, with a focus on serving the needs of our local communities. This partnership will secure a stable future for the business through a long-term ownership model. Together with Landmark’s team of professionals, we will continue to deliver our best-in-class services to the communities we serve while building on our reputation as a leader in the student transportation industry.”
About Connor, Clark & Lunn Infrastructure
CC&L Infrastructure invests in middle-market infrastructure assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flows. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage approximately CAD$100 billion in assets. For more information, please visit www.cclinfrastructure.com.
About Landmark Student Transportation Inc.
Landmark Student Transportation Inc. is a North American owned and operated company that provides school districts with safe, reliable, contracted student transportation services. Established by a team of industry veterans, the business provides school districts with cost-effective student transportation services with a focus on safety, reliability and responsiveness. For more information, please visit www.landmarkbus.com.
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