National Express Group has announced that it completed two small acquisitions last month (November) in the US and Spain. Both acquisitions are said to enable further expansion in target markets and include:
- A school coach and bus business with 204 vehicles, based in Cincinnati, Ohio.
- A Madrid bus operator with 73 vehicles, that provides staff transfers for a large local airline and national bank headquarters; an urban transport contract in Azuqueca, Guadalajara; and, school bus services in Madrid
Both businesses are expected to deliver returns in line with National Express’ guidance of 15-20%.
National Express says: “We continued to see a good trading performance across all of our divisions during October and November, in line with the trends set out in our most recent Trading Update.
“We are encouraged by strong early Christmas trading in both our UK and Spanish coach businesses, with advanced sales higher than last year.
“Overall, we remain on course to deliver our profit, free cash flow and leverage targets for the full year.”
