National Express buys US school bus firm
Tuesday 17 August 1999
A scramble has broken out among UK bus operators to snap up US school bus businesses. Last month FirstGroup paid pounds 600m for the second-largest operator, Ryder Public Transportation Services.
The US school bus market is worth $13bn and is growing strongly with a second baby boom. There are some 5,000 operators, mainly very small businesses, and only 30 per cent of school bus services have so far been let to private contractors.
Durham Transportation has 3,500 buses and transports 430,000 students a day in Texas, California, Idaho, Washington and Oregon. Last year it made pre-tax profits of $14.1m (pounds 8.6m) on turnover of $104m.
This is National Express's fourth purchase of a US school business. It acquired Crabtree-Harmon for pounds 12m in 1998 and Chicago-based Robinson Bus Service this February for pounds 14m. It also bought the much smaller Bauman Bus for an undisclosed sum.
Phil White, chief executive of National Express, aims to convert more school bus services from public to private and consolidate the market. The chief executive of Durham, Larry Durham, will run all National Express's US operations.
Outlook, page 15
- 1 Sainsbury's '50p challenge' poster telling staff to encourage customers to spend more placed in shop window instead of staff room
- 2 Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
- 3 Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
- 4 Yes, the iPhone 6 is a miracle, but it's Apple's tax affairs that deserve a double take
- 5 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
Isis could become 'world’s first truly terrorist state' and bomb UK with nuclear and chemical weapons, Theresa May warns
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...