FirstGroup plc has just added another name to its growing portfolio, snapping up the Shropshire-based Lakeside Group. This move comes hot on the heels of First Bus’s acquisition earlier in the week of Anderson Travel, a central London coach company.
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| First Group |
Lakeside, known for its local brands Lakeside Coaches, Merediths Coaches, and A. T. Brown Coaches, operates a fleet of about 145 vehicles across Shropshire, Telford, and South Cheshire.
The business mainly brings in revenue from school and private hires, with a mix of local bus services, tours, and B2B contracts rounding out its income. In the last financial year, Lakeside generated approximately £12.5 million in revenue, with earnings around £2.5 million.
With Neal Hall staying on as Managing Director to oversee day-to-day operations and Lakeside owner Gareth Davies taking a lead role as part of the First Bus team, Lakeside will be well-integrated into FirstGroup’s coaching strategy. The company has been on a steady growth path, with First Bus now adding annual revenues close to £100 million and earnings of around £13 million across its new acquisitions.
FirstGroup’s CEO, Graham Sutherland, shared his excitement over the acquisition, saying,
“The acquisition of Lakeside, a profitable business with excellent growth potential, builds on our recent acquisitions in First Bus. The addition to our portfolio will not only grow our position in adjacent services, but it will also allow us to enter new regions which is key to the overall First Bus strategy.”
As First Bus continues to expand its presence across the UK, these recent acquisitions reflect a clear strategy: growing its reach in both city centres and regional areas. With more opportunities on the horizon, First Bus seems set on carving out an even bigger share of the UK’s coach and bus industry.
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