|
Singapore-based ComfortDelGro Corporation (CDG) has bought New Adventure Travel (NAT Group) - one of the leading bus and coach operators in South Wales. The purchase price is ￡13.4m, a valuation of 5.5 times EBITDA of NAT Group. NAT Group operates 117 buses and coaches across four depots in Cardiff, Swansea, Newport and Pontypridd. It derives the bulk of its revenue from commercial and contracted scheduled bus services, with the remainder from coaches operate on local contracts, as well as UK and European private hire and holiday work. It also provides transport to sports teams including Swansea City Football Club, Newport County Team and Supporters and Cardiff City Supporters. CDG is one of the world’s largest land transport companies with a total fleet size of over 43,500 buses, taxis and rental vehicles. The acquisition is CDG’s first expansion of its bus operations outside of London, where its Metroline subsidiary is the capital’s second largest bus operator with a fleet of 1,700 vehicles. Headquartered in Singapore, the Group also has operations in China, the United Kingdom, Ireland, Australia, Vietnam and Malaysia. ComfortDelGro operates scheduled bus, coach, taxi radio circuit and private hire services in the UK. Read original article |
