Aberdeen-headquartered FirstGroup has made its third acquisition in five months after taking over an Irish coach travel business.
The company has taken over Matthews Coach Hire Limited, a family-operated, independent coach and bus service in Ireland, which was established in 1995.
This acquisition follows FirstGroup’s purchases of London-based Anderson Travel and Shropshire’s Lakeside Group just five months prior, as the company expands into new territories.
Matthews operates a fleet of over 40 vehicles, which includes two newly-acquired electric coaches. The company is centred around managing six licensed, commercial routes linking Drogheda and Dundalk, situated in the North-east of Dublin. The deal also encompasses the operator’s owned depot, located between Dublin and Belfast.
For the year ending August 2023, Matthews reported earnings of €8.8 million and EBIT of €1.2 million.
FirstGroup stated that this acquisition enhances its Aircoach division, and members of Matthews’ management team will continue to oversee the daily operations, with guidance from Kim Swan, the managing director of Aircoach, along with the broader leadership team of First Bus.
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.”
