FirstGroup has completed the acquisition of the RATP Dev Transit London operation, which has become First Bus London under that new ownership.
First Bus Chief Financial Officer Colin Brown leads the business alongside existing Managing Director Bill Cahill. Mr Cahill took up that role with RATP Dev Transit London in 2022. He has over 40 years’ experience in the bus industry, including significant international exposure.
The proposed purchase was announced in December 2024. It brings around 1,000 buses from 10 depots and approximately 3,700 employees, along with a circa 12% share of the Transport for London bus market on 83 routes. A third of the fleet is battery-electric.
FirstGroup says that as the London business’s contract portfolio evolves over the next five years, annual revenues are expected to reach £300-350 million with operating margins in line with “historical London levels” of 6.7%.
In total, First Bus now has over 5,750 vehicles and more than 17,200 staff. Completion of the acquisition of RATP Dev Transit London sees the group return to the capital’s contracted bus market for the first time since late 2013.
Speaking about the transaction, Mr Brown says: “The successful integration of First Bus London marks a pivotal moment in our strategy to expand our operations and strengthen our contribution to sustainable travel across the UK and Ireland.
“We are entering the London bus market in a strong position and this will also bolster our credentials to participate as a partner of choice in future franchising opportunities across the UK.
“We are exceptionally well positioned to accelerate innovation in fleet electrification, enhancing service quality for the millions of passengers who rely on us daily.”
Mr Cahill adds that the change of ownership “opens an exciting new chapter for our operation” and will accelerate the transition to zero-emission. Purchase of RATP Dev Transit London by FirstGroup continues a programme of acquisitions in both the coach and bus fields by the PLC.
