Federal Register #Docket No. MCF 21153

Regulatory Notice: Acquisition of Agnes Corporation by Switzer-Carty Transportation US, Inc.

This notice concerns the proposed acquisition of control over Agnes Corporation, a holding company for several passenger motor carriers, by Switzer-Carty Transportation US, Inc. (SCT-US). - Government buyer: - Surface Transportation Board (STB) - Entities involved: - Switzer-Carty Transportation US, Inc. (SCT-US) - Agnes Corporation (holding company for passenger motor carriers) - SCT-US shareholders include: - Manufacturers Life Insurance Company (Manulife) - Terramont SC Aggregator L.P. - Siemens Financial Ltd. (subsidiary of Siemens AG) - NST Holdings Inc. - Hurds Lake Investments LLC - Switzer Family Trust - Agnes Corporation subsidiaries: - Operate school bus and passenger motor carrier services in Minnesota and Iowa - Fleet size: approximately 375 vehicles (330 school buses, 45 motor coaches/vans/other vehicles) - Employ about 410 drivers - Cavalier Coaches, Inc. (subsidiary): provides charter and shuttle services with 20 passenger vehicles and 48 drivers - Notable requirements: - Regulatory approval for corporate acquisition - No procurement of products or services - Transaction expected to improve operating efficiencies and maintain service levels - No adverse impact on competition or employees - OEMs highlighted: - Siemens AG (via Siemens Financial Ltd.) - Manufacturers Life Insurance Company (Manulife) - No products or services are being procured; this is a regulatory approval for a corporate transaction involving transportation service providers.

Description

Switzer-Carty Transportation US, Inc. (SCT-US), a noncarrier, along with its shareholders, filed an application to acquire control of Agnes Corporation, a noncarrier holding company for several interstate passenger motor carriers. Agnes is owned by eight individuals and operates primarily in Minnesota and Iowa, providing school bus and passenger motor carrier services. The Surface Transportation Board is tentatively approving and authorizing this transaction, pending public comments. The acquisition aims to improve operating efficiencies and maintain service levels without adversely affecting competition or employees.

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