Singapore-based ComfortDelGro Corporation (CDG) has bought New Adventure Travel (NAT Group) – one of the leading bus and coach operators in South Wales.
The purchase price is £13.4m, a valuation of 5.5 times EBITDA of NAT Group
The acquisition is CDG’s first expansion of its bus operations outside of London, where its Metroline subsidiary is the capital’s second largest bus operator with a fleet of 1,700 vehicles.
NAT Group operates 117 buses and coaches across four depots in Cardiff, Swansea, Newport and Pontypridd.
It derives the bulk of its revenue from commercial and contracted scheduled bus services, with the remainder from coaches operate on local contracts, as well as UK and European private hire and holiday work.
It also provides transport to sports teams including Swansea City Football Club, Newport County Team and Supporters and Cardiff City Supporters.
NAT Group MD Kevyn Jones says: “Following a decade of growing this business, we are delighted it has now become part of the ComfortDelGro Group.
“We feel its expertise and financial strength will give us a great platform to continue to grow, improve and develop public transport in South Wales.”
CDG MD and Group CEO, Yang Ban Seng says: “We have been operating bus and coach services across the UK for close to two decades.
“With this addition of NAT Group, we are broadening our footprint into Wales, and expanding our bus operations outside of London which has always been our strategic intent.
“We look forward to serving the people of South Wales and introducing new and improved services to meet their travel needs.”
CDG is one of the world’s largest land transport companies with a total fleet size of over 43,500 buses, taxis and rental vehicles.
Headquartered in Singapore, the Group also has operations in China, the United Kingdom, Ireland, Australia, Vietnam and Malaysia. ComfortDelGro operates scheduled bus, coach, taxi radio circuit and private hire services in the UK.
