WARRENVILLE, Ill., Sept. 13, 2011 (GLOBE NEWSWIRE) -- National Express Group, the parent company of leading student transportation providers Durham School Services and Stock Transportation, announced today they signed an agreement to acquire Petermann. Headquartered in Cincinnati, Ohio, Petermann is the fifth largest student transportation provider in the United States. Petermann is the market leader in its home state and has operations across ten states in the Midwest, West and Southwest.
This acquisition strengthens National Express' position in the student transportation market, increasing fleet size to 20,000 buses across North America. "Petermann is a great strategic fit for our business; in addition to introducing us into new states, the company's focus on safety, people, customers and communities is absolutely aligned with our core values," stated David Duke, the chief executive officer of National Express Corp, which operates as Durham School Services in the U.S. and Stock Transportation in Canada. "Our company is in a steady growth mode on the heels of a successful business recovery plan; we look forward to welcoming Petermann employees and customers into our growing family."
"Petermann's success has been built on our core values, particularly our focus on customers. In joining National Express I know the focus on these values will remain," said Pete Settle, Petermann's chief executive officer. "This acquisition offers a great opportunity for both organizations." Settle will remain with the company and lead the North American transit division. This division will manage the paratransit operations currently operated by Petermann and work to develop additional opportunities within the transit and paratransit markets.
Dean Finch, the chief executive of National Express Group, said, "We are delighted to acquire such a high quality business in Petermann. I look forward to welcoming our new colleagues and customers to the Group as soon as possible."
About Durham School Services and Stock Transportation
Durham School Services and Stock Transportation, leaders in the student transportation industry, make up National Express Corporation (NEC) and share a strong commitment to provide the highest level of safe, quality transportation, outstanding customer service, and positive employee relations. Together, they operate more than 16,500 school buses and serve more than 350 school districts in 30 states and four provinces. NEC is the North American subsidiary of National Express Group, PLC, one of the premier transportation firms in the United Kingdom. For more information, visit www.nationalexpresscorp.com, www.durhamschoolservices.com or www.stocktransportation.com.
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http://www.cisionwire.com/durham-school-services/r/national-express-signs-agreement-to-acquire-petermann,c9160978
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