FirstGroup Plc (FGROY.PK), a provider of public transport services in the UK, announced that it has acquired Matthews Coach Hire Limited, an independent, family-owned coach and bus operator in Ireland, founded in 1995.
Matthews operates a fleet of more than 40 vehicles, including two newly-acquired electric coaches. The business focuses on six licensed, commercial routes between the rapidly growing commuter towns of Drogheda and Dundalk, located to the northeast of Dublin. The acquisition also includes the operator's freehold depot, strategically situated between Dublin and Belfast.
For the 12 months ended August 2023, Matthews reported revenues of 8.8 million euros and EBIT of 1.2 million euros.
FirstGroup noted members of Matthews' leadership team will remain with the business to lead the day-to-day operations with oversight provided by Kim Swan, Managing Director, Aircoach and the wider First Bus leadership team.
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