National Express-owned Alsa has announced the acquisition of Transportes Rober in Spain for a headline sum of €13 million, which represents 2.6 times EBITDA.
National Express said that the acquisition of Rober, which has operated the urban bus contract in Granada for more than 20 years, represents a further step in consolidating the regional and urban bus markets, a strategy which Alsa has executed in Galicia, the Basque Region and Leon amongst others. Granada is a major hub for long haul connections and the company said that the acquisition will build on Alsa’s existing urban business in Almeria and regional services, consolidating its position in Andalusia with a combined fleet of 650 vehicles and 1,900 employees.
National Express added that trading performance across the group continues to improve, slightly ahead of management expectations, and it has continued to win new contracts, including corporate shuttle work both in North America and the UK.
Ignacio Garat, CEO of National Express, said: “I am delighted that in addition to maintaining tight control on costs, we are able to focus on growth and continue our successful ‘consolidate and compound’ strategy. The acquisition of Rober adds another revenue-protected contract to Alsa, consolidating its leadership position in another region, further diversifying its revenue streams and delivering operational synergies.”
Francisco Iglesias, CEO of Alsa, added: “The consolidation of regional and urban services in Andalusia will reinvigorate public transport across the region making it more attractive and easier to use.”
