A management buyout of Abellio UK from Dutch shareholder Nederlandse Spoorwegen to create Transport UK Group completed on 28 February. The deal captures all existing Abellio operations here, including over 60 bus routes delivered on behalf of Transport for London and rail replacement and Event Connect work.
Agreement on the MBO was reached in August 2022. It has since been awaiting regulatory approval. In addition to coach and bus services, Transport UK Group also runs a number of railway contracts.
The Abellio brand will remain in operation in the short term for parts of the business, including via Abellio London Bus, the company says in a statement. It has underlined its long-term commitment to both bus and rail services, and adds that it will contribute to the debate on wider rail industry reform.
Managing Director Dominic Booth led the deal. Mr Booth – who previously described himself as “having been a railwayman all my life” – took up leadership of Abellio UK in 2007. He has enjoyed a 36-year career in public transport and counts British Rail, Connex, Prism Rail and National Express as previous employers.
Nederlandse Spoorwegen is entirely owned by the Dutch government. Approval for the MBO has been received from partners including the Department for Transport, Transport for London, and Merseytravel. Consent from the Office for Rail and Road is expected within 28 days of the deal closing.
Speaking about completion of the buyout, Mr Booth says: “We are thrilled to return key public transport services back into UK ownership.
“While our name will change to Transport UK Group, our values remain the same. We will continue to play a key role in the country’s transport sector, ensuring the provision of our award-winning services to passengers around the UK and driving innovation to develop a low-emission UK transport network.”
