Mat Fascione [CC BY-SA 2.0] via Wikimedia Commons
Rotala, the coach and bus operator, has made yet another acquisition, marking the latest move in the company’s buying spree.
The company has acquired the entire bus business that is owned by CEN Group, otherwise known as the Central Buses, for a price tag of £1.95m. The deal includes a 31-strong fleet of vehicles.
The purchase is the latest in a series of acquisitions that is funded by the debt facilities of Rotala. Since placing additional shares on the market in order to raise extra money for acquisitions in 2017, it has acquired regional bus businesses including the bus business of Heathrow’s Hotel Hoppa.
The newest deal estimates that Central’s business has annual revenues amounting to £2.8m and a fleet that is worth £1.5m. The acquisition is anticipated to generate around £450,000 worth of goodwill.
Today, Rotala also gave an update on trading, stating that the company’s strategy of acquisitive growth has strengthened the business in the various areas concerned.
This morning, the company stated: “Following the four acquisitions which have been made since July 2017, the group’s turnover in 2018 is expected to grow considerably.
“In the view of the directors the Bus Services Act 2017 will continue to create uncertainty and drive change in the bus industry. Accordingly, the board remains focused on identifying suitable acquisitions which will enhance and expand the services of the group. At the same time, the group possesses ample financial facilities to undertake further acquisitions.”