Blandy & Blandy’s Corporate team has advised Reading Buses (Reading Transport Limited) on its acquisition of Bracknell-based Courtney Buses (Courtney Coaches Limited).
Partner David Few advised on the deal which follows the retirement of the Courtney Buses’ founder, Bill Courtney-Smith. The acquisition of Courtney Buses includes a fleet of 57 buses, the Courtney Bodyworks business and Courtney Authorised Testing Facility, which can conduct MoTs on large vehicles.
Founded in 1973, the company services routes covering areas including Waltham St Lawrence, Shurlock Row, Twyford, Wokingham, Crowthorne, Sonning and Binfield. Business will continue as normal whilst the acquisition is completed, and a full review takes place to start bringing the two organisations together.
Robert Williams, Chief Executive Officer of Reading Buses, said: “We see this as a significant fit for Reading Buses, both in terms of complementary local bus network, high quality, high profile operations, our expansion into the wider Thames Valley, and also the supporting businesses.
“This well-run business will provide a return to our shareholder over time that will justify and repay the initial capital outlay and will allow the wider Reading Buses group – consisting of Reading Buses, Newbury & District and Courtney Buses – to become more efficient by integrating routes and tickets and sharing overheads."
He continued: “Our long-term relationship with Blandy & Blandy has once again proven invaluable, efficiently bringing our latest acquisition on stream.”
Partner and head of Blandy & Blandy’s Corporate team, David Few, added: “We are delighted to have advised Reading Buses on this further acquisition. The Company has for many years been recognised nationally as a leading force in the bus industry being highly respected for both its innovation and the quality of its modern fleet of environmental friendly buses. It has been a pleasure to continue the longstanding association.”
The departing Bill Courtney-Smith said: “Courtney Buses has prided itself on quality, value and integrity. Our motto – Driven by Service – really says it all. I am pleased to be passing the reins to another company which holds these values in such high regard, and one that has been recognised as such by the wider industry on numerous occasions. I wish the team well.”
In October 2018 Blandy & Blandy advised Reading Buses on its acquisition of bus company Newbury and District Limited.
For further information or legal advice, please contact law@blandy.co.uk or call 0118 951 6800.
