The Arriva Group (“Arriva”), one of the main operators of passenger transport services in Europe and manager of local public transport in Cremona, announces the completion of its acquisition from I Squared Capital (“I Squared”), an independent fund specializing in the management of infrastructure investments globally. The acquisition, announced in October 2023, covers all of Arriva’s activities in the 11 countries in which it is present.
In Italy – with approximately 90 million buses/km per year, 360 million euros in managed revenues, 3500 employees and a fleet of over 2400 buses – Arriva has been present since 2002 through Arriva Italia and guarantees local public road transport services in Valle d’ Aosta and in the provinces of Turin, Brescia, Bergamo, Lecco and Cremona. Arriva Italia also manages airport connections, transport for disabled and reduced mobility students in the municipality of Roma Capitale, rental and luxury tourism services, and mobility for large events.
Mike Cooper, the CEO of the Arriva Group, welcomed the announcement and said: “The completion of this transaction marks an important milestone and an exciting new chapter for Arriva. It’s an opportunity for Arriva to renew our commitment to working with local governments to provide essential transport services and build a more sustainable future for colleagues, customers and the communities we serve. With the support of I Squared, and thanks to its strong experience in the infrastructure sector, I am confident that we will deliver on this commitment for the benefit of the millions of people who use Arriva’s services.”
Mohamed El Gazzar, Senior Partner of I Squared then says: “Passenger transport plays a vital role in society, connecting communities, facilitating economic growth while reducing polluting emissions and congestion. Arriva wants to be the bearer of this mission, collaborating with the competent authorities and its customers. Arriva’s ambition to have a decarbonised fleet is in line with I Squared’s strategy to develop and scale assets with technologies that accelerate the energy transition.” In the end Enrico Del Prete, Fund Partner of I Squared, added: “Decarbonisation in the public transport sector is one of the next big challenges in the energy transition and we are excited to work with Arriva to provide the support and investment needed to achieve its goals: cleaner cities and public transport networks more sustainable. We see real growth potential that can be unlocked in Arriva in the long term. We are excited about what the future holds and look forward to working with the whole Arriva team to seize the opportunities in the sector together.”
The Arriva Group and its operating companies have all been transferred to I Squared as part of the deal, ensuring continuity of services across all areas where Arriva operates and reassuring employees that they will continue to serve communities without any impact on working conditions . Arriva is one of the leading passenger transport operators in Europe: it employs around 34,400 people and provides around 1.6 billion journeys every year
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