FirstGroup has completed the acquisition of Tetley’s Motor Services, a Leeds-based group with 55 coaches and buses.

The FTSE 250 listed transport operator said that Tetley’s has a “diverse portfolio of high-capacity adjacent services contracts”.

For the 12 months to 31 March 2024, Tetley’s reported revenues of £5.3m and EBIT of £1.4m.

Under the new agreement, FirstGroup confirmed that managing director Ian Tetley will remain with the business as a director while it is integrated into First Bus.

First Bus, one of the largest bus operators in the UK, has a fleet of more than 5,800 buses and carries more than one million passengers a day.

FirstGroup CEO, Graham Sutherland, said: “I am very pleased to welcome Tetley’s Coaches to the group. This is a well-established, profitable business with its own large, centrally located depot and a strong contract base.

“As we work to grow our adjacent services market share, this strategic acquisition will complement our York Pullman and Lakeside businesses and expand our operational footprint and contract portfolio in one of our key markets.”

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