First Student, Inc.-Acquisition of Control-Autumn Transportation Inc. and Ambassador Wheelchair Services, Inc.

Official abstract: On August 4, 2026, First Student, Inc. (First Student), a noncarrier, filed an application seeking Board approval to acquire control of Autumn Transportation Inc. (Autumn) and Ambassador Wheelchair Services, Inc. (Ambassador) (collectively, the Target Carriers), through First Student's acquisition of all of the issued and outstanding capital stock of each entity. On September 23, 2026, EQT Infrastructure V Collect EUR SCSp and EQT Infrastructure V Collect USD SCSp, each a noncarrier acting by its manager EQT Fund Management S.à r.l., (collectively, EQT or the EQT Entities), filed a supplement to join First Student's application (EQT Supplement). First Student and EQT will be collectively referred to as Applicants. Also on September 23, 2026, First Student filed a supplement addressing the competitive conditions in the geographic area served by the Target Carriers (Competition Supplement). The Board is tentatively approving and authorizing the proposed acquisition of control. If no opposing comments are timely filed, this notice will be the final Board action.