Listed transport conglomerate Kelsian’s acquisition of the assets of major WA bus operator Horizons West Bus and Coachlines has been completed today according to a release from the ASX.
Horizons West is a major bus operator based in Perth providing contracted bus services and bus charter services to the education sector in Western Australia
Platform for growth, complementing and enhancing end market diversification and expansion for Kelsian
Kelsian advised that it had successfully completed its acquisition of the ‘Horizons West Bus and Coachlines’ together with ancillary assets for an enterprise value of A$23.4 million2 plus a ‘contingent, deferred consideration and earn-out component of up to A$7.0 million’.
In addition, Kelsian, through its wholly owned subsidiary, STG Properties Pty Ltd, has also purchased strategic property assets comprising two depots for A$16.7 million.
Established in 1985, Horizons West specialises in providing contracted and charter bus services to schools, universities and government with approximately 157 employees operating a bus fleet of 138 buses from two depots.
“We welcome all of the management team and employees of Horizons West to Kelsian, and look forward to working together to continue delivering great services to Horizons West clients,” Kelsian’s Group chief executive officer, Clint Feuerherdt, said