One of Palladium Equity Partners’ affiliated private equity funds has acquired ALC Schools and Red Rock Technology, a mission-driven provider of alternative transportation solutions to school districts in the U.S. from affiliates of American Logistics.
ALC offers alternative student transportation solutions for a variety of student populations, including special education, homeless, foster and other in-need students. The company leverages a proprietary, technology-enabled platform to optimize transportation for school districts across the U.S.
“We are delighted to invest in this great entrepreneurial company that addresses transportation and safety concerns of school districts serving special needs children by applying leading technology solutions. This investment reflects the confluence of several themes that Palladium has invested behind, including non-emergency medical transport, logistics, and healthcare as well as a continuation of our partnership with Dean, with whom we have worked and invested alongside for over 15 years,” said Alex Funk, a principal at Palladium.
“We are excited to partner with Palladium during our next phase of growth. We see significant opportunity to expand ALC’s role in helping districts serve their special needs student populations with dependable, efficient and cost-effective transportation solutions,”
said Gregg Prettyman, the chief operating officer of ALC.
Churchill Asset Management provided a credit facility to support the transaction.
Intrepid Investment Bankers served as financial advisor to ALC on the transaction. Morgan Lewis served as ALC’s legal advisors. BlackArch served as financial advisor for Palladium. Paul, Weiss, Rifkind, Wharton & Garrison served as the legal advisor for Palladium. Morrison & Foerster served as financing counsel for Palladium.
Palladium is a middle market private equity firm with approximately $3 billion in assets under management.