FirstGroup plc has just announced their acquisition of Ensign Bus Company Limited, the well-performing Essex-based public transport, vehicle refurbishment and re-sale business. The deal is expected to be finalised over the coming months after regulatory review.
 |
| Ensignbus |
Ensignbus’ commercial bus operations comprise a local bus route network complementary to First Bus’ operations in Essex and two B2B segments that include rail replacement and private hire contract operations.
This transaction offers up an impressive young vehicle fleet of 55 buses, as well as providing potential for growth in B2B and bus dealership markets. The Ensignbus specialist heritage fleet is excluded from the transaction.
The acquisition of the Ensignbus business will both enhance FirstGroup’s existing local commercial bus operations in Essex as well as providing a number of growth opportunities in the B2B and bus vehicle dealership markets.
Graham Sutherland, FirstGroup Chief Executive Officer, said:
“The acquisition of Ensignbus, a long-established, high-performing business, will allow us to not only grow our B2B offering, but to also enhance our operational footprint in Essex, and we look forward to welcoming Ensignbus employees to the Group. This is a strategically and financially accretive growth opportunity for us, and one that is fully aligned to our balanced capital allocation policy.”
Peter Newman, Ensignbus Chairman, said:
“I want to thank all of our employees at Ensignbus for their ongoing hard work to deliver great service for our passengers across all of our communities in Essex, and we will be supporting them fully as they move to their new employer.
“We’re pleased that First Bus, with their reputation for customer service, innovation and sustainability, will take the Ensignbus business forward as a going concern and we wish them a successful future. We will continue to serve our communities and operate our network as usual until the completion date.”
Comments
Post a Comment