REL Capital has grown its presence in the coach industry with the purchase of Hertfordshire operators Reg’s Coaches and South Mimms Travel. The businesses in question have shared a common Director since 2016 and 30 coaches come with the purchase, which is worth around £2 million.
Acquisition of Reg’s and South Mimms follows the earlier purchases by REL of Davian Coaches of Tottenham, John James Luxury Travel based in Romford and Redwing Coaches of London. 100% shareholdings in each of the Hertfordshire businesses have been taken.
Unlike the earlier three operators at the time that sales were completed, Reg’s and South Mimms have been acquired in what REL Capital Chairman Andy Scott (pictured, below) says is good financial health via retirement sale. That represents a change from REL’s previous policy of pursuing distressed businesses.
All 40 jobs at Reg’s and South Mimms will be retained under the purchase. REL expects to invest in the two operators’ fleets over the coming year.
Mr Scott adds that experience with the earlier acquisitions means that “REL understands the [coach] sector.” He says that opportunity for consolidation exists and has underlined a previous hope that REL will be able to form a national group of coach businesses. Two more retirement sales are in the pipeline, he continues.
“We are actively looking to talk to other operators looking to retire or requiring investment.
“We pride ourselves on being pain-free to deal with, getting share purchases completed within a couple of weeks and doing what we say we will.” While the current focus is on South East England, Mr Scott does not rule out growth elsewhere.
Meanwhile, he says that work to rebuild the Redwing business continues. At the time of purchase by REL in early 2022 it had a fleet of 55 coaches, but that was quickly trimmed.
Mr Scott says that growth is now in sight with plans to expand the fleet to 50 coaches over the coming two years. Thomas Maidman has joined the Redwing business as Operations Director, having previously been General Manager at G4S Patient Transport Services.
