Variant Equity’s $271.4 Million Acquisition of Coach USA Administration, Inc.

Sidley Austin LLP and Alston & Bird LLP served as Variant Equity’s legal counsel on the acquisition of Coach USA. Wells Fargo Bank, N.A. and MUFG Union Bank, N.A. served as joint lead arrangers for the financing of the transaction. RBC Capital Markets acted as Financial Advisor, and Covington & Burling LLP acted as Legal Advisor to Stagecoach Group plc on the transaction.

Variant Equity completed its acquisition of Coach USA Administration, Inc. and its subsidiaries from Stagecoach Group plc in a transaction valued at approximately $271.4 million.

Headquartered in Paramus, NJ, Coach USA is a leading provider of passenger transportation and mobility services including intercity bus, public transit, employee transportation, campus shuttle and airport transportation services. The Company operates through a number of marquee brands, including, which provides intercity coach services. With over 4,500 employees and 2,200 buses, Coach USA has an extensive reach throughout the United States and Canada.

Sidley represented Variant Equity with a team led by M&A partner, Rob R. Carlson (Picture). Team members included M&A associates Sara M. Carian, Chajin Wu and Lauren Q.A. Guerdat (Palo Alto); Tax partners Ivy H. Jones (Los Angeles) and Will Smith and associates Oliver Rosshandler (London) and Scott Pollock (Chicago); Employee Benefits and Executive Compensation partner Matthew E. Johnson (Chicago); Transportation partner Matthew J. Warren and associate Marc A. Korman (Washington, D.C.); Insurance partner Ellen P. Pesch (New York); Technology and IP Transactions associate Rachelle Soderstrom; and Global Finance partner Robert G. Stephens and associate Mario R. Samos (Houston).

The Covington corporate team included Peter Laveran, Jonas Marson, Gabriella Zahn-Bielski, and Clayton Collett.

Involved fees earner: Clayton Collett – Covington & Burling; Peter Laveran-Stiebar – Covington & Burling; Jonas Marson – Covington & Burling; Gabriella Zahn-Bielski – Covington & Burling; Sara Carian – Sidley Austin LLP; Rob Carlson – Sidley Austin LLP; Lauren Guerdat – Sidley Austin LLP; Matthew Johnson – Sidley Austin LLP; Ivy Jones – Sidley Austin LLP; Marc Korman – Sidley Austin LLP; Ellen Pesch – Sidley Austin LLP; Scott Pollock – Sidley Austin LLP; Oliver Rosshandler – Sidley Austin LLP; Mario Samos – Sidley Austin LLP; Will Smith – Sidley Austin LLP; Rachelle Soderstrom – Sidley Austin LLP; Robert Stephens – Sidley Austin LLP; Matthew Warren – Sidley Austin LLP; Chajin Wu – Sidley Austin LLP;

Law Firms: Covington & Burling; Sidley Austin LLP;

Clients: Stagecoach Group plc; Variant Equity Advisors LLC;