Aberdeen-based FirstGroup has bought a coach operator, and highlighted its appetite for other purchases.
The bus and rail group has acquired Anderson Travel, which it described as a “highly experienced” coach operator providing contracted school, private-hire, mini-coach and tour services in and around London.
Anderson has around 40 coaches of varying sizes with bases in central London and Heathrow, FirstGroup noted.
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The Scottish company declared: “The acquisition will extend First Bus’s operational footprint and forms part of the group’s strategy of targeted acquisitions to grow its share of the UK adjacent services market.”
The group added that Mark Anderson, the founder of Anderson Travel who was the majority owner, would continue to lead the day-to-day operations of the business as it is integrated into First Bus.
Anderson Travel is based in central London and comprises three trading entities, Anderson Travel Limited, Anderson Tours Limited and London Mini Coaches Limited. For the year ended June 30, 2023, it reported revenues of £7.3 million and earnings before interest and tax of £1m.
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Graham Sutherland, chief executive officer of FirstGroup, said: “The acquisition of Anderson Travel, an experienced and profitable coach company, builds on our recent strategic acquisitions in the B2B (business-to-business) and B2C (business-to-consumer) coach market.
“We will continue to identify and assess opportunities to diversify and grow as we increase our share of the adjacent services market in the UK, where we see considerable opportunity for stable, long-term and value-accretive growth.”
FirstGroup said: “Anderson Travel currently operates [circa] 40 coaches of varying sizes in and around London from a depot near Tower Bridge in central London and a new, smaller depot near Heathrow airport.
“Operations include school and other private-hire contracts in London, contracted mini-coach operations around Heathrow Airport, a day-trip excursion programme aimed at international visitors run out of London daily, and a private group tour offering.”
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