Go-Ahead Group has acquired by a consortium made up of Australasian bus operator Kinetic Group (51%) and transport concession manager Globalvia Inversiones (49%).
According to market sources, the deal values Go-Ahead at around €780m.
Both consortium members say that they are “strongly convinced of the strength of Go-Ahead’s operations and the markets in which [it] operates and are positive about the long-term opportunities available to the Go-Ahead business.”
They also see opportunities for Go-Ahead to “increase its footprint in the regional UK bus market,” both by leveraging Kinetic and Globalvia’s experience in collaborating with local authorities to enhance networks and via “strategic” merger and acquisition.
Kinetic and Globalvia formed a subsidiary Gerrard Investment Bidco, to handle the purchase. Kinetic runs around 4,000 buses in Australia and New Zealand and has expanded its operations there in 2022. Globalvia operates and maintains 26 infrastructure projects.
Linklaters advised sellers with a team from the UK led by corporate partner Chris Boycott and Sarah Flaherty, alongside corporate managing associate Jennifer Sharp and corporate associates Hope Levy-Shepherd and Santiago Menendez. They were supported by finance partner Thomas Waller, tax partner Chris Smale and energy and infrastructure counsel Rasha Sami.
Linklaters Spain advised with partner Alejandro Meca, partner Lara Hemzaoui, counsel Begoña Martínez and managing associate Carlos Olmedo Salcedo.
HSF advised sellers with a UK team.
According to TTR’s report, this has been October’s main deal in the Spanish market.
