NBC sells 'Tracky'
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11 Two more NBC subsidiaries have been sold to management teams, but for the first time, one subsidiary has been split with its coaching business going to an outside operator.
Barnsley-based Yorkshire Traction has been sold to a three-man management team led by chairman and managing director Frank Carter. YT is the 15th operating subsidiary to be sold off by NBC — the 14th to be bought out by its management — and runs a fleet of 361 buses and coaches from six depots, employing 1,200 staff.
Carter is being supported in the buyout by commercial director George Peach and finance director John Myers.
The West Riding Group of bus companies has also gained independence in a two-part deal which sees its bus operations going to the current management team, while the bulk of its coaching business, National Travel East, has been taken over by ATL Holdings — the parent company of the Rotherham-based coach dealer and operator Carlton PSV.
A four-man management team, led by Kenneth Hodgson, will retain all the present operations of West Riding Automobile, along with its sister company Yorkshire Woolen District Transport, which together have 425 buses and coaches and some 1,600 staff.
ATI., however, has won the 84-vehicle National Travel East coaching business based at Sheffield. The purchase of National Travel East, which is only the second NBC subsidiary sold to an outside bidder, includes three travel shops and 120 staff.
As with previous sales NBC has not revealed the price paid for its subsidiaries. HTL is also keeping quiet on how much it paid for NTE, although it says that it is planning a number of developments for the company, which will be re named NTE Coaches.
According to newspaper reports, NBC will be launching a national advertising campaign in an attempt to help boost the price of its National Express subsidiary.
The Independent reports that there has already been "lots of expressions of interest" in National Express from prospective bidders — but it claims that NBC is worried that the interest could fade if the precise nature of the National Express assets are revealed.
Despite publishing profits of £7.9 million in 1985, National Express has few assets to offer as it is basically a franchising operation with independent PSV companies paying for the National Express services and the right to use the National name.