Student Transportation of America gained two new contracts today in New Hampshire. Last week the company secured new school bus outsourcing contracts in Connecticut, and its Canadian sister company also won new contracts.
Like the contracts in Connecticut, STA’s latest two contracts in New Hampshire are for five years, will begin this upcoming school year and will include the purchase of a new 80-bus fleet as part of the agreement. Company reps said the New Hampshire contracts will add about $4.3 million in annual revenues for next fiscal year while the Connecticut contracts will add more than $4.6 million in annual revenue.
Under the Connecticut agreements, both customers will pay 100 percent of fuel costs. Both New Hampshire contracts contain fuel price mitigation. One of the contracted customers will supply all fuel requirements; the other will include a fuel price escalation clause in the event of higher fuel costs.
STA currently has several long-standing operating locations in New Hampshire and Connecticut. COO Patrick Vaughn said these new contracts are part of a broader regional platform in the New England area.
Meanwhile, last week in Canada, STA’s sister company, Student Transportation of Canada, also won two new five-year contracts in Ontario that begin in July. The new contracts will add about 200 vehicles and $9 million Canadian in revenue annually. Both contracts also include fuel price mitigation clauses.
