Arriva’s sale to I Squared Capital has been confirmed, meaning a firmer footing on which it can move forwards, says CEO Mike Cooper
The acquisition of the Arriva Group by I Squared Capital has been completed, the company has announced. The Arriva Group and its operating companies across 11 countries have all transferred to I Squared as part of the deal, which it says will ensure the continuity of services across Arriva’s footprint, and provide reassurance for employees who will continue to serve without any changes to their employment conditions. The acquisition was first announced in October 2023.
Arriva Group CEO Mike Cooper welcomed the news. He said: “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.”
Mohamed El Gazzar, Senior Partner at I Squared, added: “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.”
Fund Partner at I Squared Enrico Del Prete commented: “Decarbonising public transport is one of the next big challenges in the energy transition and we are excited to work with Arriva to provide the support and investment that will help the company achieve its vision of cleaner cities and greener public transport networks. We see genuine growth potential that can be unlocked at Arriva over the long-term. We are excited for what comes next and look forward to working with the whole Arriva team as we capitalise on the opportunities in the sector together.”
I Squared has existing experience in essential infrastructure services, including transport, logistics, energy, utilities, and digital infrastructure around the world. The company describes itself as ‘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.’