Shields & Co. led and managed a successful cross-border sale of two non-emergency medical transportation companies to National Express Corporation (NEC), the North American subsidiary of National Express Group, PLC (LSE:NEX), a premier transportation firm in the United Kingdom. NEC completed the acquisition of The Joint Venture of Thompson Transit and YCN Transportation, LLC (the “Joint Venture”) and Y.C.N. Transportation, Inc. (“YCN”) on March 24, 2012.
The Joint Venture is a leading provider of specialized paratransit transportation services in New England. Through a comprehensive multi-year contract, the Joint Venture provides service solely to the Massachusetts Bay Transportation Authority’s (the “MBTA”) THE RIDE Program (“THE RIDE”) in the Greater Boston area. The Joint Venture offers door-to-door transportation to eligible people who cannot use public transit due to a physical, cognitive, or mental disability.
Y.C.N. Transportation, Inc., located in Norwood, Massachusetts, was founded in 1962 by the Armour family. YCN has grown to become one of the largest independent, special needs (“SPED”) transportation providers in New England, servicing over 1,200 students at approximately 90 schools across 29 towns. For decades, YCN has been providing transportation services to children and adults with special needs to various schools and day programs throughout Eastern Massachusetts.
Shields & Company acted as a financial advisor to The Joint Venture of Thompson Transit and YNC Transportation, LLC and Y.C.N Transportation, Inc. in the above transaction.
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