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Vectis sold
Page 32
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• Southern Vectis, the National Bus Company's local operator on the Isle of Wight, has become the fourth of NBC's 70 subsidiaries to be sold off and the third to go to its own management under the current programme of privatisation.
The buy-out is being led by managing director Gary Batchelor and two of his senior staff: Stuart Linn SV's commercial director, and engineering director Alan Peeling.
NBC has been closely guarding how much it has been paid for its three bus company subsidiaries which have been successfully bought out by their management. A competing bid, however, by an outside transport operator — Carlton PSV of Rotherham -for Southern Vectis was rejected.
Drivers, maintenance staff and clerical workers will have the opportunity to buy shares in the new company. Southern Vectis will also offer the rest of its 300 employees the Southern Vectis has become the third NBC local bus subsidiary to be bought out by its management. NBC is not saying how much it was paid for either Southern Vectis, Badgerline or Devon General.
chance to buy shares in the near future.
Southern Vectis operates a fleet of 130 buses and coaches under its own name, and that of Fountains Coaches. Although most of its routes are within the Island, it does run tours to other parts of the IJK.