Stagecoach has purchased South Gloucestershire Bus and Coach (SGBC) for an undisclosed su,. The deal will be pivotal to its plans for growth in and around Bristol, the group says.
Completion is expected in late October. The sale has been prompted by the owners of SGBC deciding to step away from the industry.
Besides commercial and contracted bus services and private hire work, SGBC is one of the lead contractors for Stagecoach’s Megabus operation. That work will all become part of Stagecoach West.
The group already has a modest presence in Bristol. The purchase of SGBC will allow “further growth” there, says Stagecoach West MD Rupert Cox (pictured). Those plans will help to deliver “improved connectivity for the city and support the region’s aspirations for economic growth.”
Adds Mr Cox: “The deal provides us with a great opportunity for more flexibility and it offers a diverse mix of services to complement our existing routes.
“With Bristol’s 16-25-year-old population predicted to grow by 20% in the next five years, now is a great time to look at expanding our services further into this exciting market.”
South Gloucestershire Bus and Coach is currently owned by the Durbin family. Its most recent accounts show a pre-tax loss of £1.76m on a turnover of £6.19m for the 12 months to 31 May 2018. That situation quickly improved and the business returned to profit in the following seven months, managers say.
SGBC has 100 employees and a fleet of 53 coaches and buses. All staff will transfer to Stagecoach.
