Reading Buses agree terms to purchase Courtney Buses
From the Bracknell News
READING Buses have agreed terms to purchase Bracknell-based firm Courtney Buses.
The network continues to expand following recent acquisition of routes in Newbury and now Courtney Buses' fleet of 57 buses. Covering commercial bus services in Bracknell and Slough, the company was responsible for serving high-profile corporate contracts as far afield as Basingstoke, Didcot and Weybridge.
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.”
Following the retirement of the founder, Bill Courtney-Smith, Courtney Buses is expected to expand to incorporate Reading Buses’ existing operation. The acquisition also includes Courtney Bodyworks, which offers a range of vehicle repairs and a full-size bus paint shop.
It will also see them take over Courtney Authorised Testing Facility, which is equipped to carry out MOT tests on large vehicles.
Mr Courtney-Smith, managing director of Courtney Buses, added: “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.”
Reading Buses says that business will continue as normal for the time being while the acquisition is completed.