Intrepid announced today that it acted as the exclusive financial advisor to American Logistics, LLC (American Logistics) on the sale of ALC Schools, LLC and Red Rock Technology, LLC (collectively ALC) to an affiliate of Palladium Equity Partners, L.L.C. (along with its affiliates, Palladium), a New York-based middle -market private equity firm.
Founded in 2006, ALC has quickly emerged as the leader in alternative student transportation, servicing more than 400 school districts in 20 states across the U.S. In 2019, ALC coordinated more than 2 million trips for the most vulnerable student populations, including special education, homeless, foster, and other hard-to-serve students. As a part of the transaction, Palladium also acquired Red Rock Technology, LLC, which supports ALC Schools, LLC with state-of-the-art routing and trip management technologies that underpin ALC’s unmatched efficiency, safety, and service capabilities. ALC has offices and operations centers strategically located in San Clemente, California, Colorado Springs, Colorado, St. George, Utah and Raleigh, North Carolina.
“While we are intently focused on using technology solutions to efficiently and safely transport more than 12,000 students to and from school each day, ALC’s core values center on meeting the unique needs of each student, parent, and school district,” remarked Gregg Prettyman, Chief Operating Officer of ALC. “From the outset, we set out to find a partner that would not only assist us in achieving our strategic vision and growth plan but, more importantly, one that shares our values and understands our unique mission-driven culture. We found that in Palladium and are excited for the path that lies ahead,” said Megan Carey, Chief Revenue Officer of ALC.
“Intrepid demonstrated incredible execution capabilities in 2018 on our dividend recapitalization, and they were the clear choice to represent us in the sale of our student transportation division,” reflects Craig Puckett, CEO of American Logistics. “Their deep understanding of ALC’s business, culture, and the goals of our stakeholders led to an efficient process and an exciting new chapter for the ALC management team.”
“The ALC team has truly built a distinguished leader in alternative student transportation, and we are excited to see the company’s market leadership and growth continue with Palladium as their new partner,” said Gary Rabishaw, Managing Director at Intrepid.
“Closing this second transaction with ALC is a true testament to the life cycle advisory we provide at Intrepid with our capital markets and M&A capabilities,” commented Jonathan Zucker, Managing Director at Intrepid. “We have enjoyed serving as a strategic resource to the company and look forward to continuing this strong relationship into the future.”
With the sale of ALC, its student transportation division, American Logistics will now focus solely on serving the healthcare industry and transit/municipal agencies nationwide.
Deal Team Contacts
Jonathan Zucker, Managing Director and Head of Capital Markets
Gary Rabishaw, Managing Director
Stephanie Raven, Marketing Specialist
About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage breeds a culture that embraces teamwork, tenacity and creativity to help our clients win big. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.