Thamesdown Transport Limited has been sold to the Go-Ahead Group after councillors agreed to sell the Council’s shares in the company. It reduces the number of municipal bus operators in the UK to 10.
The decision to sell the municipal to Go South Coast, part of the Go Ahead Group, was taken at Cabinet meeting on 1 February and “will ensure Thamesdown Transport has a sustainable future,” says the council.
The operator has incurred losses over the last five years due to difficult trading conditions, despite continued financial support from the Council, says a statement.
“With the Council also facing challenging financial pressures of its own, a review of the bus company concluded that the sale of Thamesdown Transport to an established operator would be in the best interest of council taxpayers, Thamesdown’s staff and its customers,” says the council.
Following a competitive process Go South Coast’s bid “was assessed as offering the best value to the Council,” which wholly owns the company.
The offer from Go South Coast, the terms of which are commercially confidential, was for all the Council’s shares and the freehold of Thamesdown’s Barnfield depot.
Cllr David Renard, Leader of Swindon Borough Council, says: “We were one of the few local authorities in the country to still own a local bus company, but the Council is operating in a really challenging financial climate at the moment and we do not have the resources to continue to support Thamesdown Transport as we have been doing in recent years.
“We have had to change the way we provide services across the Council while balancing the ever increasing demand on adults’ and children’s services.
“We believe this deal is in the best interests of local bus users as it secures the financial sustainability of the bus company, offers the best long-term security for Thamesdown Transport’s employees, and will provide vital investment.
“The Council will arrange a joint meeting with Go South Coast and bus user groups in the coming weeks so customers have the opportunity to learn about investment plans and raise any issues or concerns that they may have.”
Says Go South Coast Managing Director Andrew Wickham: “This is an excellent opportunity for us to develop the services on offer to local people here in Swindon and north Wiltshire.”
“We’re keen to point out that it’s business as usual as far as our customers are concerned. Any tickets or passes they have will still be valid, and our 85 buses will continue to serve existing routes with no change to timings.
“That said, our ultimate aim is to enhance the services on offer here. As part of this, we will be consulting with local people and listening to the needs of those who travel on our buses. Our team will be engaging with representatives of local bus users about our plans to invest in local services.
“We are excited to be providing vital sustainable transport in this region, and I have no doubt our talented team will make a complete success of our new venture. I look forward to meeting with our local customers and hearing their views over the coming weeks and months.
Go-Ahead has appointed Alex Chutter, currently Operations Manager at sister company Salisbury Reds, to take the reins at Thamesdown as General Manager. Thamesdown Transport MD Paul Jenkins left the company yesterday.
