Fourth bus buy-out
8th November 1986, Page 24
8th November 1986
Page 24
Page 24, 8th November 1986
— Fourth bus buy-out
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• Cheltenham and Gloucester Omnibus has become the fourth National Bus Company subsidiary to be purchased by its own management team.
Mark Thomas, managing director, and ten colleagues, have paid around £1 million for the company in a buyout financed by merchant bank, Hill Samuel.
Cheltenham and Gloucester plans to introduce a profit sharing incentive scheme for its 560 employees next year.
The 200 buses and coaches in the company's fleet last year carried about 20 million passengers on journeys in the Gloucestershire, north Wiltshire and Cotswolds region.