Operators for sale as REL Capital plans coach market exit

Sector investor REL Capital is selling the coach operations it took on over the past five years.

The company made purchases of various operators during the pandemic and afterwards, including Redwing, Davian Coaches, Lewis Coaches, KB Coaches, Klarners Coaches and Advance Minibuses.

“The reasons for the expedited sale are purely personal as I am off to the USA with my son to live” – Andy Scott of REL Capital

Andy Scott of REL Capital said: “We were pleased to have kept the doors open and steadied the ship with a number of operators over the last four to five years, but now is the time to move on and we want to pass the baton on to experienced operators to take these businesses to the next level.

“The reasons for the expedited sale are purely personal as I am off to the USA with my son to live and exiting our UK investments over the coming months.”

Scott went onto say that the investment firm is realistic on price for the businesses, only seeking to sell for trade asset value of the coaches. It says it will work with any purchaser who is commercial and ‘able and serious to do a quick, pain-free deal’.

Scott’s current focus is exiting the coach group, plus a marine business, while retaining a UK litigation funding arm which has £10m of cases under management which will be overseen from the USA.

MD, Dan Butterfield, who has run the business for last year, is keen to reiterate that despite the backers being keen to exit for personal reasons, it is business as normal. He reports nothing will change day-to-day operationally for any of the managers or office team drivers, or any of its school, private hire or rail partners.

“We have built a great team over the last year, and keen to grow on that good work” – MD, Dan Butterfield

Dan said: “I am keen to remain with the business, and work with any potential buyer(s) or provide a handover as is required. We have built a great team over the last year, and keen to grow on that good work.”