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Kelsian completes Horizons West acquisition

Multi-modal operator Kelsian Group has finalised its acquisition of WA’s Horizons West

Kelsian Group has announced that it has completed its acquisition of operator Horizons West Bus and Coachlines.

After first announcing the planned acquisition in October last year, the multi-modal transport operator has now finalised the acquisition of assets.

Horizons West is a leading provider of contracted bus services and charter services to the Western Australian education sector.

The acquisition will allow Kelsian Group to provide a platform for growth, complementing and enhancing end market diversification and the overall expansion of Kelsian.

Kelsian says the deal includes an enterprise value of $23.4 million plus a contingent earn-out component of up to $7 million.


RELATED ARTICLE: Kelsian expands in the education transport sector through Horizons West acquisition


Kelsian, through its wholly owned subsidiary STG Properties has also purchased strategic property assets comprising two depots for $16.7 million.

 

Horizons West was established in 1985 and specialises in providing contracted and charter bus services to schools, universities and government with around 157 employees operating a fleet of 137 buses from two depots.

“We welcome all of the management team and employees of Horizons West to Kelsian and look forward to working together to continue delivering great services to Horizons West clients,” Kelsian Group CEO Client Feuerherdt says.

Feuerherdt lodged the acquisition to the ASX on January 31.

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