London-based transport business Go-Ahead Group has offered to acquire Plymouth CityBus (PCB) for £20 million. 

London-based transport business Go-Ahead Group has offered to acquire Plymouth CityBus (PCB) for £20 million.

PCB operates a fleet of 173 buses and 11 coaches from a depot in Plymouth, carrying around 14 million passengers each year around the city. The company generated sales of £17.6 million and EBITDA (earnings before interest, tax, depreciation and amortisation) of £2.5 million in the year ending March.

The offer follows Go-Ahead’s acquisitions of East Thames buses and Arriva’s bus interests in Horsham earlier this year. The company focuses on passenger transport services in the bus, rail and aviation sectors and employs 27,000 people across the country.

In the year ending June, Go-Ahead reported an increase in revenue of 6.7 per cent to £2.3 billion and a drop in pre-tax profits of 59 per cent to £42 million.