In major news for Queensland’s bus industry, multi-national operator Kinetic has today announced it has agreed to acquire Gold Coast based bus and coach company Koala Koaches.
The deal will see Kinetic further strengthen its operations across the Gold Coast region by taking on the fleet of 31 Koala Koaches buses and a team of 32 employees, all of whom will retain employment with Kinetic.
Koala Koaches was established in 1963 and is a popular name in Gold Coast’s bus industry as a leading provider of charter bus services in the region.
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The acquisition will also allow Kinetic to add Koala Koaches’ Burleigh Heads depot into its footprint to provide better coverage for charter customers and explore opportunities to enhance the reliability of existing operations.
Koala Koaches managing director Bede Young says he’s confident in the business’ continued growth under Kinetic’s stewardship. He will stay on with the business.
“Together with our family and valued team, we’ve built a special company here at Koala Koaches over the past six decades, and I’m confident that Kinetic shares our commitment to serving the Gold Coast through both excellent service and partnering with the community,” he says.
“Joining the Kinetic Group provides our team with new opportunities across the local transportation industry while ensuring our customers continue to receive the safe and reliable service that has made us the Gold Coast’s leading charter provider.”
The acquisition brings Kinetic’s tally to operating 60 routes and more than 220 schools runs in the region.
Kinetic managing director of Australia Matthew Campbell says the company is excited to welcome the Koala Koaches team and expand its charter services on the Gold Coast.
“Bede Young and Dominique Budgen have built an outstanding reputation across the Gold Coast, continuing a proud family legacy since the 1960s, and we’re committed to continuing their great work and maintaining the high standards of service the community has come to expect,” he says.
“The Koala Koaches brand will remain, the staff will remain and customers will continue to receive the same industry-leading service from the same experienced drivers and quality vehicles they know and trust.
“This acquisition allows us to expand Koala Koaches’ charter business while bringing the support of our broader operations network.
“We share similar values, particularly around supporting local communities through partnerships and community giving.
“We look forward to expanding our partnerships on the ground and for this acquisition to unlock more ways to support the communities we serve.”
The transaction is expected to complete on July 31 this year, subject to relevant approvals.
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