Rotala motors on with Manchester swoop

TRANSPORT company Rotala has bought Manchester-based Green Triangle Buses (GTB) for £900,000.

Rotala has also repaid about £380,000 to GBT’s bankers to settle its outstanding overdraft.

At the date of acquisition GTB had net assets of some £466,000 including hire purchase debt of £233,000.
 
In the year ended August 31 2014, GTB had revenues of approximately £3.9m and a profit before tax and exceptional items of £107,000.

On this basis the acquisition is expected to generate about £450,000 of positive goodwill.

GTB operates 43 vehicles from a long leasehold depot in Atherton, near Leigh, and employs about 100 staff.

Birmingham-based Rotala says the acquisition will enable the company to enhance its position in the Lancashire market and give it access for the first time to the Greater Manchester area which falls under the remit of Transport for Greater Manchester.