REG-FirstGroup Plc: Acquisition of Matthews Coach Hire

FirstgroupAnnouncement

04/02/2025 07:15

FIRSTGROUP PLC

Acquisition of Matthews coach hire

FirstGroup plc (the `Group') is pleased to announce that it has acquired
Matthews Coach Hire Limited (`Matthews'), an independent, family-owned coach
and bus operator in Ireland, founded in 1995.

With 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 two key and rapidly growing commuter towns, Drogheda
and Dundalk, to the northeast 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 €8.8m and
EBIT of €1.2m.

The acquisition complements our Aircoach business, provides increased access
to the non-airport commuter market in Ireland, widens our stakeholder network
and gives us the opportunity to diversify into local B2B markets.

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."

 

 

 Contacts at FirstGroup: Marianna Bowes, Head of Investor Relations Stuart Butchers, Group Head of Communications corporate.comms@firstgroup.co.uk Tel: +44 (0) 20 7725 3354  Contacts at Brunswick Group: Andrew Porter / Simone Selzer Tel: +44 (0) 20 7404 5959  

 

 Contacts at Panmure Liberum: Nicholas How / John More Tel: +44 (0) 20 3100 2000  Contacts at RBC Europe Limited: James Agnew / Jack Wood Tel: +44 (0) 20 7653 4000  

 

 

Notes

Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR
6 Annex 1R: 3.1.

 

About FirstGroup

FirstGroup plc (LSE: FGP.L) is a leading private sector provider of public
transport services. With £4.7 billion in revenue and around 30,000 employees,
we transported almost 2m passengers a day in FY 2024. We create solutions that
reduce complexity, making travel smoother and life easier. Our businesses are
at the heart of our communities and the essential services we provide are
critical to delivering wider economic, social and environmental goals. Each of
our divisions is a leader in its field: First Bus is one of the largest
regional bus operators in the UK, serving more than 20% of the population in
the UK with a fleet of around c.4,800 buses, and carrying more than a million
passengers a day. First Rail is one of the UK's largest rail operators, with
many years of experience running long-distance, commuter, regional and sleeper
rail services. We operate a fleet of c.3,700 locomotives and rail carriages
through three DfT contracted train operating companies: WCP (incorporating
Avanti West Coast and West Coast Partnership Development), GWR and SWR) and
two open access routes (Hull Trains and Lumo). We are formally committed to
operating a zero-emission First Bus fleet by 2035, and First Rail will help
support the UK Government's goal to remove all diesel-only trains from service
by 2040. During FY 2024 FirstGroup was named as one of the world's cleanest
200 public companies for the fifth consecutive year and achieved Industry
Top-Rated status for the first time with Sustainalytics. We provide easy and
convenient mobility, improving quality of life by connecting people and
communities. Visit our website at www.firstgroupplc.com and follow us
@firstgroupplc on X.



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