Coach operator makes bolt-on acquisition
COACH operator Rotala has invested £200,000 to buy a Lancashire minibus and coach company as part of its strategy to bolt-on acquisitions to strengthen its market presence.
Rotala will integrate Fylde-based Elite Minibus and Coach Services into its Preston Bus subsidiary, which has a site in Blackpool.
Elite includes six vehicles and generates annual revenues of about £500,000. It operates contracted services for local authorities and schools around the Blackpool area and also has a private hire arm.
In a statement to the stock market, Rotala said: “This acquisition will broaden the range of services which Preston Bus is able to offer in this area of Lancashire and add to its geographical reach.”
Last month Rotala raised £2.4m in a share placing to fund bolt-on acquisitions as well as investments in the facilities at two West Midlands depots.
The Birmingham-based company received support from new and existing shareholders in the belief the company will be able to support “up to £85m” in revenue. In the last two years annual turnover has been just above £50m.
