Management buy-in at coach operator

COACH and bus operator Stephensons of Easingwold has been sold to a new team.

Husband-and-wife team Ian and Jennie Peacock made a direct offer to the owners, Harry and David Stephenson.

They, along with Jonathan Hill, will stay on the board as directors.

The Peacocks own another coach operator, Teesside-based Newbury Coach Travel trading as North East Bus and Coach.

Stephensons, based at Tholthorpe, north of York, run 50 vehicles with commercial and tendered bus routes on their roster.

Its main sites at Tholthorpe and Kirkbymoorside will continue operating.

David Stephenson said: “This change is going to be a fantastic step for Stephensons.” One of the immediate areas to be improved will be vehicle presentation, along with pay rates from the new school year to keep the company in line with its competitors and ensure that staff are rewarded for their efforts.

“Ian and Jennie intend to drive the company forwards with a new and determined enthusiasm. They are committed to building on Stephensons successes.
“The approach came out of the blue, but as we don’t have any family interested in taking the business on, it made sense to accept their offer.”