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APTA Business Members Involved in Acquisitions
Four APTA business members—Wabtec, Faiveley Transport, Hallcon Corporation and GlobeSherpa—have been involved in recent acquisitions.
Wabtec Corporation, Wilmerding, PA, plans to acquire Faiveley Transport S.A. through the purchase of approximately 51 percent of that company’s stock. Upon completing the purchase, Wabtec will introduce a tender offer for Faiveley’s remaining publicly traded shares. Faiveley Transport’s headquarters in Gennevilliers, France will become Wabtec’s global transit headquarters under the Faiveley Transport brand name. This acquisition will create one of the world’s largest public rail equipment companies, with revenues of about $4.5 billion, say company officials.
Toronto-based Hallcon, which provides comprehensive outsourced employee transportation solutions for several companies, acquired Loop Transportation Inc. and SFO Shuttle Inc. of San Francisco, which operate as Loop. The companies will continue to operate under their existing brands and will maintain individual operating teams.
Loop provides employee commuter bus services to such firms as Google, Facebook, Apple and LinkedIn. It also operates airport shuttles at San Francisco International Airport and Oakland International Airport.
Also, GlobeSherpa has become part of RideScout LLC, which is part of Daimler AG. GlobeSherpa’s operations remain in Portland, OR, and Nat Parker continues as its chief executive officer.
GlobaSherpa provides mobile ticketing technology for public transportation. RideScout is a mobile app that allows users to search and compare ground transportation options on demand.
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