The KKR Asia Pacific Infrastructure Fund has agreed to acquire Ritchies Transport Limited, a leading transportation operator in New Zealand. It is KKR's first infrastructure deal in the country.

Founded in Temuka in 1935, Ritchies is one of the largest transport providers in New Zealand, with a fleet of more than 1,600 vehicles, and a network of 42 strategically located depots across the country. The company provides the government, local councils, and private customers with reliable and accessible public transport solutions in some of New Zealand’s largest cities.

Upon completion of the transaction, the Ritchie family will continue to hold a stake in the company. Rothschild & Co. acted as KKR’s financial adviser. Cameron Partners acted as Ritchies’ financial adviser.

"Our investment reiterates KKR’s strong commitment to investing in critical infrastructure assets in New Zealand, and globally through our expanding portfolio,” says David Luboff, partner and head of Asia-Pacific infrastructure at KKR.

Buses account for 75% of total public transport trips made in New Zealand, and KKR sees continued demand for high-quality, greener public transport solutions.