Wales tops NBC buyout league
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• The National Bus Company has pulled out of Wales with the sale of Llandudno-based Crosville Wales. Like two former NBC Welsh companies sold under the Government's privatisation programme (National Welsh and South Wales Transport), Crosville Wales has been bought by its own management.
The buyout was led by managing director Ian Reid, a former senior accountant at NBC's London head office, supported by fleet engineer Ted Green and commercial manager John Mortimer. A number of other local managers will also be shareholders and all employees will be able to acquire a stake in the firm.
Crosville Wales was the largest of NBC's Welsh subsidiaries, serving North and Mid Wales as far south as Aberaeron and Newcastle Emlyn, as well as part of Shropshire.
The company currently runs a fleet of 470 buses, minibuses and coaches from 17 depots and outstations, and employs almost 1,000 staff. LI Another part of NBC has gone into private ownership with Rugby-based Midland Red South being bought by Western , Travel, which is the holding company for Cheltenham & Gloucester Omnibus Company. The company emplys 470 staff and runs 180 buses from five depots in the south Midlands. ONorwich-based Ambassador Travel, which employs 65 staff and runs 40 coaches, has been bought by members of its senior management and Eastern Counties.
The buyout, which was led by Ambassador Travel's company secretary Ray Green and assistant manager Terry Park, involved the former NBC subsidiary Eastern Counties, which bought Ambassador's head office and depot in Vulcan Road South, Norwich.