X
Rotala Share Price Index
20th September 2019 @ 04:20 pm GMT
53.00 GBX
ISIN
GB00B1Z2MP60
Last
GBX 53.00
Change
GBX -0.50 (-2.80%)
Open / High / Low
53.98 / 53.99 / 52.00
Volume (pcs.)
39,874
Share Price Tracker

Acquisition in Manchester

Rotala is pleased to announce that it has agreed to acquire from First Manchester Limited, its Bolton depot and the majority of the First business located at that depot. The total consideration for the acquisition is £5.3 million.

Key points:

  • Acquisition of Bolton depot and associated business, capable of operating up to 200 vehicles and serving 18 commercial bus routes
  • Acquisition will make Rotala the second largest player in the Manchester bus market, one of the largest bus markets in the country
  • Bolton depot will become the headquarters of the Rotala Group in the North West
  • Rotala to lease 125 vehicles from First initially to service the new routes, with vehicles being replaced progressively by the Group in the next two years, leading to lower maintenance costs and fuel efficiencies

Completion of the Acquisition is expected to occur in August 2019 following necessary regulatory permissions.

The business to be acquired from First by Rotala comprises 18 commercial bus routes operating in the Bolton and Bury areas and into the centre of Manchester. The Acquisition includes the depot at Weston Street, Bolton, the plant and machinery at that site and the goodwill of the business. Approximately 500 staff will also transfer to Rotala with the business.