FirstGroup plc has completed the acquisition of RATP Dev’s sightseeing bus operations in London and Bath, in a deal that further strengthens the group’s presence in the south-west and the capital.
Photo © FirstGroup / RATP Dev
The services currently operate under the Tootbus brand and are primarily focused on sightseeing.
They include a fleet of 63 buses in total, 42 in London and 21 in Bath, and employ around 190 people.
The acquisition also covers the Airdecker service, which provides a link between Bath and Bristol Airport.
As part of the deal, FirstGroup will take on a large freehold depot in Wandsworth, south-west London, as well as a leased depot in Keynsham, near Bath.
The move follows FirstGroup’s purchase earlier this year of RATP Dev’s London bus operations, which now run under the First Bus London name.
FirstGroup says entering the sightseeing market in London and Bath will help diversify its business, while the additional depots are expected to deliver operational and cost efficiencies and open up opportunities for future growth.
Graham Sutherland, FirstGroup Chief Executive Officer, said: “The acquisition of the bus operations in London and Bath, in line with our UK-focused growth and diversification strategy, will allow us to further diversify and expand our footprint in two of our key markets.
“The integration of the businesses will also create material operational and cost synergies and the opportunity to grow our London route portfolio over time.”
Arnaud Masson, Senior Vice President of Digital and Sightseeing at RATP Dev, said Tootbus had become a leading sightseeing operator in London and Bath.
“We are proud of our teams for their achievements in building a strong brand that delivers a unique urban sightseeing experience to thousands of visitors every year,” he said, adding that FirstGroup is “well positioned to take it further.”
