Go-Ahead Acquires Blue Triangle Buses

Go-Ahead Group, a UK-based provider of transportation services, has acquired independent bus operator Blue Triangle Buses through its London General Bus subsidiary for a consideration of GBP12 million, on a debt-free and cash-free basis.

Based from a single depot in Rainham, Essex, Blue Triangle operates a fleet of approximately 60 vehicles for London contracts and Essex County Council, together with rail replacement services. The business generated adjusted operating profit of approximately GBP1 million on revenue of GBP10.7 million in the year ended 30 June, 2006, and has won three new contracts since then.

The acquisition significantly expands Go-Ahead’s footprint in the important East London bus market following the acquisition of Docklands Minibuses Limited in September 2006.

Commenting on the acquisition, Keith Ludeman, CEO of the group, said: “The acquisition of Blue Triangle represents an important step for us in East London and complements the continuing strong organic growth of our London Bus business which remains at the top of the Transport for London (TfL) quality league tables.”