Suffolk-based coach and bus operator Galloway Travel Group to be sold
PUBLISHED: 17:12 07 April 2016 | UPDATED: 17:14 07 April 2016
Ownership of the Galloway Travel Group (GTG), based at Mendlesham, is to change hands later this year.
The business is to be acquired by Eastern Transport Holdings (ETH), a new company under the same ownership as Rochford-based Stephensons of Essex which already operates bus, school and charter services across Essex and south-west Suffolk.
Galloway’s directors, including managing director David Cattermole, are to retire from the business but it will continue as a standalone operation when the sale completes at the end of November.
Mr Cattermole said the message was very much one of “business as usual”.
“The directors and management team of GTG will work closely with the directors of ETH to ensure the new owners are able to develop an in depth knowledge and awareness of all aspects of the trading style of GTG before completion of their acquisition,” he added.
“The existing management team of Galloway will be instrumental in assisting the directors of ETH in planning and developing an exciting future for Galloway.”
Bill Hiron, chief executive of ETH, said: “Our acquisition of GTG represents a logical extension to the existing business and is in keeping with our vision to diversify both our geographic footprint and range of income streams.”