HCT Group acquire Powells Bus
HCT Group is delighted to announce that it has completed its first commercial acquisition, purchasing Powells Bus for an undisclosed sum on Tuesday 24 July. Powells bus operates local bus services, school buses and private hire services in the Rotherham and Doncaster areas. Founded in 1996, it has a fleet of approximately 30 vehicles.
Explaining the move, Dai Powell, HCT Group Chief Executive said “We have been working in Yorkshire as CT Plus since 2004 and are looking to expand our operations.
“We have been looking for three things in our first acquisition. The first was a business that was a good match for our own in terms of services operated. The second was a business where there were significant opportunities for growth. The third is arguably the most important – we believe that local services have a real social impact for communities and we sought out an operator that felt the same way.
“We think that this acquisition is a sign of things to come for HCT Group. A social enterprise buying a commercial operator – with a view to turning it into a social enterprise – is a great way of providing public services for public benefit.”
Ian Powell, of Powells Bus, said “HCT Group have the resources and expertise to help take Powells Bus to the next level – pursuing new opportunities and growing the organisation.”
Jane Powell, of Powells Bus, said “HCT Group really understands the ethos we have built here at Powells. They have a genuine track record of providing local services in the communities where they work – and, like us, they know what our services mean to the people that use them; that they are vital lifelines.”
As HCT Group has plans to grow the business, no jobs are at risk from the move.
Frank Villeneuve-Smith, HCT Group. Direct line: 020 7608 8954, Mobile: 07891 960084, firstname.lastname@example.org
Tracey Vickers, HCT Group, 020 7608 8950, email@example.com
About HCT Group
HCT Group is an award-winning social enterprise in the transport industry, safely providing over 30 million passenger trips on our buses every year. We deliver a range of services – from London red buses to social services transport, from school transport to whole bus networks, from community transport to education and training.
We reinvest the profits from our commercial work into high social impact transport services or projects in the communities we serve, and into providing training opportunities for people who are long-term unemployed – making a real difference to people’s lives.
Social enterprise at national scale
At HCT Group, we believe that the best way to be a sustainable social enterprise is to be an effective enterprise. Our commercial success enables our community impact. As a consequence, HCT Group has become a social enterprise at national scale, growing at an average of 24% per year for 20 years, with contracts won in competition with the multi-national giants of the transport industry.
We now operate a fleet of over 750 vehicles from sixteen depots across London, Yorkshire, the southwest, the northwest, Derbyshire and the Channel Islands, with a staff team of close to 1600.