Bus operator secures £180,000 investment
A coach and bus company which provides passenger services and holiday excursions has received a £180,000 investment from Finance Yorkshire.
Barnsley-based Globe Holidays runs public buses across West and South Yorkshire and employs more than 60 people.
The investment, from Finance Yorkshire’s Business Loan Fund, supports the acquisition of new vehicles and on-board ticketing technology.
Globe Holidays also operates private hire and school transport services, along with a UK holiday programme and day excursions. The company runs travel shops in Barnsley, Bradford and Rotherham.
Following the launch of several new routes this year, Globe Holidays has recruited 18 people and added 11 vehicles to its fleet. The company now operates 28 buses and 16 coaches.
Scott Woolley, managing director, said: “The investment from Finance Yorkshire comes at a time of rapid expansion for the business. They recognised our need for gap funding and quickly developed a good understanding of our business.
“The investment has enabled us to further expand our team and ensure reliable connections for local communities within South and West Yorkshire.
“As more people return to travel, we are looking forward to welcoming them on board our services, where they will now experience the latest in ticket machine technology.”
Alex McWhirter, chief executive of Finance Yorkshire, said: “Our investments are designed to support growing companies to realise their potential and create jobs in Yorkshire and the Humber. This is especially true when traditional finance providers are unable to meet their requirements.
“As the travel industry continues to recover from the pandemic, we are looking forward to seeing Globe Holidays continue to cement its status as one of the region’s leading passenger transport providers.”
Finance Yorkshire’s Business Loan Fund is part of its wider regional business fund which is expected to provide more than £50m to SMEs over the next five years. Investment is also available from its Growth and Seedcorn Funds.