The acquisition of Arriva Group by I Squared Capital has been completed.
The deal, which was announced by then owners Deutsche Bahn (DB) in October 2023, involves the UK Bus unit as part of its passenger transport operations in 11 countries.
I Squared Capital, a global infrastructure investment manager, is headquartered in Miami and has $38 billion in global assets across more than 80 companies.
Arriva Group, which earlier confirmed its brand would remain, says the development represents a pivotal moment for the business, which will lead to a sustainable development.
Mike Cooper, Arriva Group CEO, says: “Closing this transaction marks an important milestone and an exciting new chapter for Arriva.
“It is an opportunity for Arriva to recommit to working alongside passenger transport authorities to deliver essential transport links and build a more sustainable future for our colleagues, customers and the communities we serve.
“With the backing of I Squared, an independent and highly reputable infrastructure investor, I am confident that we will deliver on that commitment for the benefit of the millions that Arriva serves.”
Mr Cooper had earlier said the deal would “create new opportunities for Arriva’s passengers, colleagues and passenger transport authorities”.
Mohamed El Gazzar, Senior Partner at I Squared, adds: “Passenger transport plays a vital role in society, connecting communities and facilitating economic growth, while reducing carbon emissions and congestion.
“Arriva plans to be at the heart of this agenda, working alongside its transport authorities and clients.
“Arriva’s ambition for the decarbonisation of its fleets also aligns with I Squared’s strategy to develop and scale assets with technologies that accelerate the energy transition.”
Arriva Group says I Squared is a “leading investor in transport and logistics and in decarbonisation technologies, with a track record of investing significant capital to create sustainable, long-term growth across its portfolio”.
