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Kings Ferry sold to National Express

Kings Ferry sold to National Express Steve O' Neill to remain with company within NatEx group.
NATIONAL Express has purchased Kings Ferry, the Kent based coach company founded by Peter O’Neill. The deal is valued at £8million. Kings Ferry provides commuter coach services in London and the south of England, alongside a prestigious private hire and holiday tour business. It operates 75 coaches, employs 110 people, and is based at modern premises just outside Gillingham.

For NatEx the acquisition strengthens considerably its presence in the London commuter market. Kings Ferry’s commuter coaches carry 1,300 people daily. Kings Ferry, which was set up 40 years ago, has a fleet of 75 vehicles and over 110 employees and is based near Gillingham, Kent.

Last year Kings Ferry produced a profit of £700,000 on a turnover of £10million.

NatEx group chief executive, Richard Bowker, says: “We are delighted that a high quality business like Kings Ferry is joining the group. Its coach services provide a vital service to many commuters in the south-east and this is a market we believe has considerable potential.”
   
Peter O’Neill is retiring while his son, Steve, who has been running the business as managing director, remains with the company.

www.nationalexpressgroup.com