Coach industry investor REL Capital has added three more operators to its portfolio in Lewis Coaches of London, Advance Minibuses of Rayleigh, and Wickford-based KB Coaches.
All three are retirement sales. REL Capital Director Andy Scott says that two further purchases by the growth-hungry group are in hand for the coming months.
Lewis Coaches is said to be the capital’s oldest-established coach business, dating to 1919. It brings a fleet of 20 vehicles that includes Epsom Explore-branded coaches. The deal includes a separate undertaking that trades as MoT Factory, which will continue to look after the Lewis Coaches fleet and third-party vehicles.
REL says that it will retain the Lewis Coaches brand but bring the business under its existing Redwing umbrella. Lewis Coaches Directors Tim Lewis and Keith Payne will retire, but Peter Lewis will remain with the combined business in a senior managerial role and James Lewis will continue as Transport Manager within the expanded organisation.
REL Redwing Director of Operations Tom Maidman has wished Tim Lewis and Mr Payne well in their retirement, and adds that the new owner looks forward to welcoming other members of the Lewis family, along with the wider Lewis Coaches team, to REL.
Mr Maidman has underlined plans to grow Redwing and says that the business “intends to be a 100-strong operator of London coaches within the next two years.”
Advance Minibuses will come under the REL Davian fold, but like Lewis Coaches will retain its present identity. Advance has been purchased from outgoing Directors Brian and Shirley Southgate. KB Coaches of Wickford will also be brought into Davian control, and rebranded under that name.
REL Davian Director Matt Watson says that business recently increased its O-Licence vehicle authorisation to facilitate growth in Essex, and has purchased 15 vehicles to further build its presence in that county.
Mr Scott adds that REL Capital’s strategy of buying coach operators is delivering profitable growth. He says that across those businesses in its control, earnings before interest, taxes, depreciation and amortisation of £2.5 million are expected in 2024.
“We will continue to grow both organically and by acquisition over the coming months, and we welcome any chats with operators looking to retire or in need of investment through partnership,” Mr Scott continues.
