A Fylde coach and minibus company has been brought by Rotala.
Rotala, the Birmingham based company has put forward an investment of £200,000 to buy Elite Minibus and Coach Services in Fylde.
The company, based in Blackpool, has a fleet ranging from 4 to 53 seated vehicles and has been established for 28 years in Fylde.
They have a service contract with the local authority for the Service Number 87 that goes between Cleveleys and Poulton, along with several school and college contracts.
The company, together with its private hire business generates an annual revenue of around £500,000.
In a statement made by Rotala to the stock market they go on to say “This acquisition will broaden the range of services which Preston Bus is able to offer in this area of Lancashire and add to its geographical reach.”
Rotala has had a turnover in the last few years of just over £50m however it has raised its aims to generate a figure of £85m following its expansion.
Rotala’s hold operations in Bristol, Essex, Manchester and is also the owner of Preston Bus which it brought back in January 2011.
The LSE statement said: “This business, with its small number of existing staff will be integrated into the outstation which Rotala already operates in Blackpool through its subsidiary company, Preston Bus.”
It went on to add that the vehicle fleet of Elite had a fair value of £150,000 and that Rotala would not assume any other assets or liabilities of materiality on acquisition.
“On this basis the Acquisition is expected to generate about £50,000 of positive goodwill on consolidation and is expected to be earnings enhancing from completion.”
Bob Dunn the Director added: “We already operate a few services in Blackpool, eight at this moment in time however this will give us another six.
“We have always seen the area as one we wanted to expand into and we have other things planned for the wider North West.
“We want to develop the whole region with more of a coach operation, but are also looking at bus opportunities.”