Switzer-CARTY Transportation Services has secured a $300 million revolving credit facility from a five-bank syndicate led by Scotiabank, providing the student transportation company with additional capital to support expansion across Canada and the United States.
Scotiabank served as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent for the facility.
The revolving structure gives Switzer-CARTY the ability to draw capital as needed, subject to the terms of the agreement, as the company pursues growth initiatives and invests in its broader transportation platform.
The financing comes as Switzer-CARTY continues expanding its operations across North America, with a particular focus on its growth plans in the U.S. The company said the new facility will provide additional financial flexibility to pursue opportunities and support the continued transformation of the business.
Founded in 2011 by transportation industry veterans Jim Switzer and Doug Carty, Switzer-CARTY provides student transportation services through a fleet of thousands of vehicles operating across Canada and the United States.
The company’s services include daily home-to-school transportation, accessible student transit, and customized charter transportation. Switzer-CARTY has built its operating model around safety, driver retention, and customer service.
The financing also reflects continued support from Switzer-CARTY’s banking partners as the company scales its geographic footprint and operating capabilities.
Terramont Infrastructure Partners, which is associated with Switzer-CARTY’s growth strategy, highlighted Scotiabank’s long-standing relationship with the transportation provider and the role the financing can play in supporting continued expansion.
The $300 million facility gives Switzer-CARTY a larger pool of committed capital that can be accessed over time rather than through a single upfront borrowing. This structure can provide flexibility as the company evaluates acquisitions, fleet investments, new market opportunities, and other strategic initiatives.
Switzer-CARTY is headquartered in Burlington, Ontario, and continues to expand its presence as a provider of student transportation and related services throughout North America.
KEY QUOTES:
“This financing is an important step in our growth. We appreciate the support of our banking partners. Their participation gives us the flexibility to invest in new opportunities and advance our plans to transform the business.”
Kate Clutterbuck, Chief Financial Officer Of Switzer-CARTY Transportation Services
“We are grateful for Scotiabank’s long-standing support of Switzer-CARTY, as the company continues to grow and provide safe, reliable transportation services across North America.”
Michael Lehman And Vikram Singh, Co-Managing Partners Of Terramont Infrastructure Partners
