BREAKING: Sealink Travel Group Limited (SeaLink) has successfully acquired Go West Tours* for an enterprise value of AUD$84.7 million** - plus an earn-out component of up to AUD$25 million, the company has announced.
Three strategic properties were also purchased for an additional AUD$3.8 million, it confirms.
SeaLink’s Group chief executive officer Clint Feuerherdt says the acquisition diversifies our portfolio and provides a platform for further growth into the attractive resources sector.
“We welcome all of Go West’s employees to the Group and look forward to working together to continue delivering great services for Go West’s clients,” Feuerherdt stated.
“Our focus remains on designing, delivering and operating world-class, innovative and sustainable transport solutions,” he added.
ABOUT GO WEST
Go West Tours is a specialist bus-passenger transport business operating in regional and remote Western Australia serving primarily the resources sector, it explains.
Established in 1986, and currently with eight depots across Western Australia, Go West Tours is WA’s leading supplier of modern charter, rental and tour vehicles, servicing the mining, education, tourism and government sectors, as well as private groups, it confirms.
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ABOUT SEALINK
SeaLink Travel Group is Australia’s largest integrated land and marine, tourism and public transport service provider with established international operations in London and Singapore it says.
It is one of Australia’s most experienced and diverse multi-modal transport businesses, boasting performance-driven capabilities across ferry, bus and light rail, it states.
SeaLink is made up of Australian marine and tourism operations and Transit Systems’ domestic and international public bus and light rail transport operations, it adds.
SeaLink moves more than 206 million customers per year, has in excess of 9,000 employees and operates approximately 3,700 buses and 120 ferries, it states.
NOTE:
* SeaLink Travel Group Limited has acquired 100 per cent of the shares in S.V.Haoust Pty Ltd (trading as Go West Tours) from Stanley V. Haoust and the trustees of the DS & NM Haoust Family Trust, David Haoust and Naomi Haoust. SeaLink has purchased the properties through its wholly owned subsidiary STG Properties Pty Ltd.
** Cash-free and debt-free basis, prior to completion adjustments and excludes any earn-out consideration.
Photography: courtesy Sealink