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Highlights
FirstGroup has acquired Anderson Travel, a London-based coach operator, enhancing its operational footprint in the UK.
The acquisition includes three trading entities: Anderson Travel Limited, Anderson Tours Limited, and London Mini Coaches Limited.
Mark Anderson, the founder and majority owner, will continue to lead the company’s daily operations post-acquisition.
FirstGroup (LSE:FGP) has announced the acquisition of Anderson Travel, a well-established coach operator based in London, as part of its strategic plan to expand its presence in the UK adjacent services market. The financial details of the acquisition remain undisclosed. Anderson Travel consists of three entities: Anderson Travel Limited, Anderson Tours Limited, and London Mini Coaches Limited.
Anderson Travel operates approximately 40 coaches of various sizes, primarily from its depots located near Tower Bridge and Heathrow Airport. The company’s services encompass school and private hire contracts in London, mini coach operations around Heathrow, a daily day trip excursion program aimed at international visitors, and a private group tour offering. For the fiscal year ending June 30, 2023, Anderson Travel reported revenues of £7.3 million and earnings before interest and tax of £1 million.
FirstGroup views this acquisition as an important step in its ongoing strategy to grow its share of the UK services market through targeted acquisitions. Chief Executive Graham Sutherland stated that the acquisition of Anderson Travel, which is recognized as an experienced and profitable coach company, aligns with the group's recent strategic moves in both the business-to-business (B2B) and business-to-consumer (B2C) coach market sectors.
Mark Anderson, the founder and majority owner of Anderson Travel, will remain at the helm, overseeing daily operations as the company integrates into First Bus. This continuity is expected to ensure a smooth transition and maintain the quality of service that Anderson Travel's customers have come to expect. FirstGroup aims to continue identifying and assessing opportunities for diversification and growth, recognizing the substantial potential for stable, long-term, and value-accretive growth in the UK market.
