24 October 2006
Acquisition of Marchwood Motorways (Southampton) Limited and Marchwood Motorways (Services) Limited (together, "Marchwood Buses")
Go-Ahead announces that Solent Blue Line, its wholly owned subsidiary, has acquired Marchwood Buses, an independent bus and coach operator in the Southampton conurbation, for a total cash consideration of £3.0 million and the assumption of £1.4 million of net debt at completion. Marchwood Buses operates a fleet of approximately 51 vehicles and is a franchisee of Solent Blue Line. The business generated operating profit of £535,000 on revenue of £4.1 million in the year ended 31 March 2006. The acquisition will, together with the Group’s existing bus operations, give Go-Ahead critical mass in the Southampton region.
For further information, please contact:
|The Go-Ahead Group plc
|Keith Ludeman, Group Chief Executive
||020 8929 8650
|Ian Butcher, Group Finance Director
||0191 232 3123
|Weber Shandwick SquareMile (WSSM)
||020 7067 0700
|Richard Hews/Rachel Taylor/Stephanie Badjonat
Note to Editors:
Go-Ahead is a key operator of commuter services in London and the South East. Through Govia, it is the franchise holder for Southern and Southeastern. Bus services include London Central and General, companies in North East England, West Midlands, Oxford, Brighton, Poole, Bournemouth, Southampton, Isle of Wight and routes in the Gatwick Airport and Crawley conurbation. The aviation and car parking businesses have nationwide coverage.