FirstGroup has completed its third acquisition in five months after taking over an Irish coach travel business.
The Aberdeen-headquartered travel giant has this morning announced the takeover of Matthews Coach Hire Limited, an independent, family-owned coach and bus operator in Ireland, founded in 1995.
The deal comes five months after First bought London-based Anderson Travel and Shropshire-based Lakeside Group as it drives into new regions.
Matthews has a fleet of more than 40 vehicles that includes two newly-acquired electric coaches. The business is built around the operation of six licensed, commercial routes between Drogheda and Dundalk, to the North-east of Dublin. The acquisition includes the operator's freehold depot, located between Dublin and Belfast.
For the 12 months to August 2023, Matthews reported revenues of €8.8million and EBIT of €1.2million.
First said the acquisition complements its Aircoach business, and 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.
Commenting on the acquisition, Graham Sutherland, FirstGroup chief executive officer, said: "The acquisition of Matthews Coach Hire, an established, profitable business builds on our recent strategic acquisitions in First Bus.
"It will complement our existing operations and allow us to expand our presence in the non-airport commuter and B2B markets in Ireland and we look forward to taking the business forward."