Kelsian, owner of Sydney Harbour’s Captain Cook cruises and the Kangaroo Island ferry, has bought the USA’s fourth-biggest coach and bus group.
All Aboard America! had revenues of $US208 million in calendar 2022 and about half of it stems from contracts with corporate customers. They include Apple, Tesla and Google and a host of other blue-chip players in the LNG and oil and gas industries.
“Apple and Google and Tesla, certainly those buys don’t settle for second best,” he said. “There’s a comfort factor.”The acquired group has a fleet of 1063 coaches and buses. It operates under the main brands of All Aboard America, LuxBus America, Ace Express, SunDiego, Hotard and First Class. The company runs businesses in California, Texas, Arizona, Colorado, New Mexico, Louisiana and Mississippi.
Mr Feuerherdt said Kelsian had been looking for four years to find the right entry point in the US, and had approached Tensile Capital. It had been extra careful in due diligence because All Aboard America! had been under private equity ownership for an extended period.
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