Turnaround investor REL Capital is seeking buyers for all the coach operators that are within its portfolio ahead of an exit from the industry.
The owner has stressed that those businesses will continue as normal in the interim period. REL Capital founder Andy Scott says that the reasons for the planned disposals are “purely personal” and that the decision forms part of a wider exit from UK investments as he moves with his son to the United States.
REL Capital entered the coach industry in late 2020 with the purchase of Davian Coaches of north London, which was soon rebranded REL Davian. In perhaps the most high-profile of its industry purchases, the investor took on the troubled Redwing Coaches business in early 2022. Several further deals in south-east England followed.
Mr Scott says that he and the REL team “were pleased to have kept the doors open and steadied the ship with a number of coach operators over the last four to five years, but now is the time to move on, and I want to pass the baton onto experienced operators to take these businesses to the next level.”
He adds that “realistic” valuations have been put on each operator and that REL seeks to sell them for the trade asset value of coaches involved. The group “will work with any purchaser that is commercial, able and serious to do a quick, pain-free deal.”
Mr Scott also plans to exit his marine business in the UK while retaining a litigation funding arm that has £10 million worth of cases under management. That will be overseen from his new home in the United States.
Group Managing Director of REL Capital coach business Daniel Butterfield has underlined how the status quo will remain while the sale process is underway.
“Despite the backers being keen to exit for personal reasons, it is business as normal, and nothing will change day-to-day operationally for any of the managers, office team, drivers, or any of our school, private hire or rail replacement partners,” says Mr Butterfield.
“I am keen to remain with the business and work with any potential buyer(s) or provide a handover as required. We have built a great team over the last year, and are keen to grow that good work.”
Interested parties should email Freya Casey at REL Capital via fc@relcapital.co.uk.
