Van Pool Joins Fort Point Capital Portfolio
Fort Point Revs Up at the Start of 2014
April 3, 2014
Boston, MA — Fort Point Capital has acquired a controlling stake in Van Pool Transportation, LLC (“Van Pool” or the “Company”), a provider of transportation services for special needs children in New England. Based in Wilbraham, Massachusetts, Van Pool is a provider to over one hundred school districts, delivering unmatched service to the students, families, schools, and districts.
“Van Pool has a long track-record of growth, thanks to its exceptional service levels and compelling value proposition,” said Fort Point Capital Principal Christina Pai. “We expect to build on this track-record of success by investing in additional resources to expand service to this important student population.”
According to the National Center for Education Statistics, the percentage of K-12 students who are eligible for special services has risen from 8.3% in 1976 to 13.1%, or roughly six million students, in 2009. Within the state of Massachusetts, 18% of the student population is eligible. Van Pool has invested extensively in training its drivers, monitors, and dispatch team to specifically serve this growing population.
“Van Pool is addressing its critical customer needs,” said Fort Point Capital Partner Paul Lipson. “And it’s doing so by taking into consideration not only the specific requirements of the students, but also the need of school districts to control cost.”
“I am excited for Van Pool not only to benefit from Fort Point’s extensive experience working with route-based transportation and consumer services companies, but to mine the firm’s knowledge scaling businesses at our stage of growth,” said Van Pool CEO Kevin Hinkamper.
Crescent Capital Group and Babson Capital provided debt financing for the transaction; Kirkland & Ellis and McGladrey advised Fort Point. Cleary Gull served as the exclusive financial advisor to Van Pool.
About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, service-oriented companies in partnership with strong management teams. Fort Point Capital is currently investing from FPC Small Cap Fund I. Please contact Fort Point at (617) 303-2121 or www.fortpointcapital.com.