InMotion Group, Souter Investments’ New Zealand transport group, has completed the sale of its Rotorua based Reesby business to Ritchies, one of New Zealand’s largest and most successful bus companies.
Acquired by InMotion Group in 2015, Reesby is a leading provider of urban bus, tourism and charter services in and around Rotorua and the Central North Island of New Zealand.
National operator Ritchies’ operates more than 1,200 vehicles employing 1,800 staff across New Zealand. Its Rotorua operations provide a range of bus services from mini-vans to luxury coaches doing everything from tour charters to school work.
InMotion Group Chief Executive Bill Rae commented: “The sale of Reesby allows us to focus on our operations in Auckland, Wellington and on the Hauraki Gulf, where we have owned and operated businesses for more than 12 years. We wish the team at Reesby every success as part of the Ritchies group.”
Souter Investments has had a presence in the New Zealand transport market since 2007 with established businesses in Auckland and Hauraki Gulf based ferry and tourism operator Fullers360, and bus operators Howick & Eastern Buses, Mana Coach Services and Waiheke Bus.
About InMotion Group
InMotion Group is a New Zealand based transport group which carries more than 16 million passengers each year across a variety of public transport services, including urban, charter and tour bus and coach services and ferry and tourism operations.
The Group’s operating companies include Auckland and Hauraki Gulf based ferry and tourism operators Fullers360 and urban, school, charter and tour bus and coach operators Howick & Eastern Buses (Auckland), Mana Coach Services (Wellington) and Waiheke Bus (Waiheke Island).
For more information please visit: www.fullers.co.nz, www.howbus.co.nz, www.manacoach.co.nz.
About Souter Investments
Souter Investments is the family investment office of Sir Brian Souter, co-founder and Chairman of Stagecoach Group plc. It makes investments across a broad range of asset classes, with a primary focus on private equity and a portfolio of more than 30 direct private equity investments.
For more details please visit: www.souterinvestments.com.