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Glenvale goes to Stagecoach

STAGECOACH has bought Merseyside bus operator Glenvale Transport in a deal which sees the Scottish-based group pay £3.4million in cash for Glenvale’s shares while taking on Glenvale’s net debt of £7.8million.

Glenvale operated 275 mainly elderly buses – the fleet age is believed to average about 12 years, with some vehicles over 20 years old – and employed 830 people. Its annualised turnover is in the region of £25million. Stagecoach has said it will be updating the fleet, in which around 75 per cent of the vehicles are of step-entrance layout.

Glenvale was formed in July 2001 when the Office of Fair Trading required that Arriva dispose of the former Merseyside Transport depot at Gilmoss as a condition of its acquisition of Merseyside Transport, the region’s major bus operator.

Glenvale subsequently acquired CMT Buses in June 2003, and most of the more modern vehicles in the fleet came with the CMT business.

Brian Souter, chief executive of Stagecoach, says: “Glenvale is a substantial independent city-centre bus operator, and it is an excellent strategic fit with Stagecoach's successful UK Bus division. We are excited by the opportunities to grow revenue and improve profitability at Glenvale through innovation, investment and by applying Stagecoach's operational expertise.”



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