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US buys Ensign arm

16th August 1990, Page 18
16th August 1990
Page 18
Page 18, 16th August 1990 — US buys Ensign arm
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• Whitehall Investments of Delaware has become the first US firm to buy a significant stake in the UK PSV industry with the purchase of the bus operating arm of Ensign Bus Services for just over E6m.

The takeover of Frontrunner Buses South East by the US venture capital group, involves all of Ensign's commercial bus services, London Regional Transport contracts, 83 double-deckers and the depot.

Ensign will continue to run its London sightseeing business and bus and coach dealership.

The existing management and 125-strong staff of the operating arm which was bought from Stagecoach Group 12 months ago, will remain under the control of managing director Leon Daniels. Ensign chairman Peter Newman will act as an executive consultant for 12 months.

Whitehall Investments pipped Stevensons of Uttoxeter with its bid.

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