FirstGroup Plc - Acquisition of Anderson Travel

FIRSTGROUP PLC

Acquisition of Anderson Travel

• FirstGroup has acquired Anderson Travel, a highly experienced coach operator providing contracted school, private hire, mini coach and tour services in and around London
• The operator has c.40 coaches of varying sizes with bases in central London and Heathrow
• The acquisition will extend First Bus' operational footprint and forms part of the Group's strategy of targeted acquisitions to grow its share of the UK adjacent services market

FirstGroup plc (the `Group') is pleased to announce that it has acquired Anderson Travel, a central London based coach company comprising three trading entities, Anderson Travel Limited, Anderson Tours Limited and London Mini Coaches Limited.  

Anderson Travel currently operates c.40 coaches of varying sizes in and around London from a depot near Tower Bridge in central London and a new, smaller depot near Heathrow airport. Operations include school and other private hire contracts in London, contracted mini coach operations around Heathrow airport, a day trip excursion programme aimed at international visitors run out of London daily, and a private group tour offering. For the year ended 30 June 2023, Anderson Travel reported revenues of £7.3m and EBIT of £1.0m.  

Mark Anderson, the founder and majority owner of Anderson Travel, will continue to lead the day to day operations of the business as it is integrated into First Bus. 

Graham Sutherland, FirstGroup Chief Executive Officer said:

"The acquisition of Anderson Travel, an experienced and profitable coach company, builds on our recent strategic acquisitions in the B2B and B2C coach market. We will continue to identify and assess opportunities to diversify and grow as we increase our share of the adjacent services market in the UK, where we see considerable opportunity for stable, long-term and value accretive growth."

The Group expects to report its results for the 26 weeks to 28 September 2024 on 14 November 2024.

Notes

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 6 Annex 1R: 3.1.

About FirstGroup

FirstGroup plc (LSE: FGP.L) is a leading private sector provider of public transport services. With £4.7 billion in revenue and around 30,000 employees, we transported almost 2m passengers a day in FY 2024. We create solutions that reduce complexity, making travel smoother and life easier. Our businesses are at the heart of our communities and the essential services we provide are critical to delivering wider economic, social and environmental goals. Each of our divisions is a leader in its field: First Bus is one of the largest regional bus operators in the UK, serving more than 20% of the population in the UK with a fleet of around c.4,800 buses, and carrying more than a million passengers a day. First Rail is one of the UK's largest rail operators, with many years of experience running long-distance, commuter, regional and sleeper rail services. We operate a fleet of c.3,700 locomotives and rail carriages through three DfT contracted train operating companies: WCP (incorporating Avanti West Coast and West Coast Partnership Development), GWR and SWR) and two open access routes (Hull Trains and Lumo). We are formally committed to operating a zero-emission First Bus fleet by 2035, and First Rail will help support the UK Government's goal to remove all diesel-only trains from service by 2040. During FY 2024 FirstGroup was named as one of the world's cleanest 200 public companies for the fifth consecutive year and achieved Industry Top-Rated status for the first time with Sustainalytics. We provide easy and convenient mobility, improving quality of life by connecting people and communities. Visit our website at www.firstgroupplc.com and follow us @firstgroupplc on X.