MV Transportation Inc. announced the successful asset purchase of New York City school bus operator, USA United Fleet Inc. The agreement was approved by the U.S. Bankruptcy Court of the Eastern District of New York last week.
MV Transportation Inc.'s student transportation subsidiary, Reliant Transportation Inc. assumed the existing bus fleet and four New York City Department of Education operation and maintenance contracts.
The company will begin operation of more than 500 bus routes with approximately 600 vehicles beginning with the start of school in New York City, Sept. 8, 2011.
The completion of this transaction, valued at over $75 million in revenue, marks the largest acquisition in the company's 36 year history.
MV Transportation also operates the Access-A-Ride services in Harlem, Staten Island and Brooklyn for the New York Metropolitan Transportation Authority.