Houlihan Lokey Advises EverDriven Technologies

Houlihan Lokey is pleased to announce that EverDriven Technologies (EverDriven), a leader in alternative student transportation for school districts, has been acquired by Charlesbank Capital Partners (Charlesbank) from Palladium Equity Partners (Palladium). The transaction closed on February 14, 2024.

EverDriven is a leader in alternative student transportation for school districts, using technology and logistics expertise to solve special transportation needs for children. The company provides transportation for 28,000 students annually, primarily children qualifying under the McKinney-Vento Homeless Assistance Act and special education programs. EverDriven partners with nearly 700 school districts across 29 states, helping families safely get their loved ones to and from school.

Under Palladium’s ownership, EverDriven recruited a talented management team and board of directors to grow the business into a nationwide platform, including the development of sophisticated proprietary routing technology, the building of a scalable operating system, and the creation of robust safety standards.

Since its founding in 1997, Palladium has invested in more than 210 companies (40 platforms and more than 170 add-ons). With more than $3 billion in AUM, the firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital and strategic guidance. The partners of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a focus on companies they believe will benefit from the growth in the U.S. Hispanic population.

Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $17 billion of capital raised since its inception. Charlesbank focuses on management-led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth.

Houlihan Lokey served as advisor to the board of directors of EverDriven. This deal exemplifies the continued momentum of the firm’s Transportation Technology and Transportation & Logistics practices and long-standing track record of delivering exceptional outcomes for its clients.