USA
Following on from its filing for bankruptcy in June, Coach USA has announced that it has completed its previously announced sale to the Renco Group, including its megabus USA intellectual property and retail operations. The company says that services will continue uninterrupted and that the sale will not have an immediate effect on its operations.
Chief Executive Officer of Coach USA Derrick Waters said: “We are moving forward with new owners and a solid financial foundation that will help us drive future growth and services improvement as we strive to be the safest transportation company in North America. The Renco Group brings additional resources and strategic expertise that will support our plans to invest in new technologies, fleet upgrades and service enhancements – all helping to ensure a modern and efficient travel experience for our passengers. Our commitment to providing reliable and affordable transportation is stronger than ever, and we are proud to continue serving communities that have relied on our transportation network for decades.
“The completion of this transaction serves as an important milestone in the journey of Coach USA. I am incredibly grateful to our employees for their unwavering commitment to working with our valued partners and vendors and safely serving our loyal customers across our routes and markets, every day.”
President of the Renco Group Ari Rennert added: “We are pleased to complete this transaction with Coach USA. Coach USA and its affiliated brands are blue-chip household names and serve a critical role in customers’ lives across North America. We look forward to supporting the company in this next phase of the business’ journey as its talented management team looks to modernize and enhance the travel experience for all passengers.”
