Acquisition of Anderson Travel
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FirstGroup has acquired Anderson Travel, a highly experienced coach operator providing contracted school, private hire, mini coach and tour services in and around London
The operator has c.40 coaches of varying sizes with bases in central London and Heathrow
The acquisition will extend First Bus' operational footprint and forms part of the Group's strategy of targeted acquisitions to grow its share of the UK adjacent services market
FirstGroup plc (the `Group') is pleased to announce that it has acquired Anderson Travel, a central London based coach company comprising three trading entities, Anderson Travel Limited, Anderson Tours Limited and London Mini Coaches Limited.
Anderson Travel currently operates c.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. For the year ended 30 June 2023, Anderson Travel reported revenues of £7.3m and EBIT of £1.0m.
Mark Anderson, the founder and majority owner of Anderson Travel, will continue to lead the day to day operations of the business as it is integrated into First Bus.
Graham Sutherland, FirstGroup Chief Executive Officer said:
"The acquisition of Anderson Travel, an experienced and profitable coach company, builds on our recent strategic acquisitions in the B2B and B2C 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."
The Group expects to report its results for the 26 weeks to 28 September 2024 on 14 November 2024.
| Contacts at FirstGroup: Marianna Bowes, Head of Investor Relations Stuart Butchers, Head of Corporate Communications corporate.comms@firstgroup.co.uk Tel: +44 (0) 20 7725 3354 | Contacts at Brunswick: Andrew Porter / Simone Selzer Tel: +44 (0) 20 7404 5959 |
| Contacts at Panmure Liberum: Nicholas How / John Fishley Tel: +44 (0) 20 3100 2000 | Contacts at RBC Europe Limited: James Agnew / Jack Wood Tel: +44 (0) 20 7653 4000 |
Notes
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