Eddie Brown’s mystery investor
Eddie Brown Tours has secured significant investment which it claims paves the way for growth and development in its 65th year in business. The deal saved over 60 jobs. KPMG’s Restructuring Services team in Leeds secured the investment from a backer who remains unnamed. Established in 1949, the operator provides coach hire, excursions, holidays and school and college bus services. The second generation family business is led by MD, Deirdre Brown and employs over 60 staff with a fleet of 50 vehicles at its base in Wetherby, North Yorkshire.
The deal was led by KPMG Director, Gareth Harris and supported by Glyn Baddeley and Richard Starkey. It has safeguarded over 1,500 booked excursions and travel partnerships for a number of the region’s schools. Gareth Harris said, ‘Eddie Brown coaches have been an instantly recognisable element of the Yorkshire travel industry for over half a century. I’m sure that many Yorkshire folk from the 50s and 60s will have taken their first holidays in one of Eddie Brown’s iconic vehicles. After experiencing some financial and operational challenges over the difficult winter period, we are very pleased to have identified a suitable investor to provide significant funds for investment and help move the business forward.’
Deirdre Brown said, ‘This fantastic investment not only helps to secure the future of my family’s business, but it also allows us to continue with investment in new vehicles and provide quality, reliable travel services to our thousands of customers. I look forward to welcoming on board both our loyal clients and new customers for many more years to come, and continuing the personal service and attention to detail that my parents started 65 years ago. KPMG played an integral role in identifying an investor which has helped secure the future of our family business. We look forward now to further developing the business and to continue providing top quality travel services to our thousands of customers from across the north.’