Wikipedia

Go-Ahead Group

The Go-Ahead Group Limitedis amulti-nationaltransportgroup based inNewcastle upon Tyne,England. While the majority of its operations are within Great Britain, it also operates services in Ireland, Australia, Singapore, and Norway. Go-Ahead was formerly listed on theLondon Stock Exchangeprior to being purchased byKinetic GroupandGlobalviaby 2022.

The Go-Ahead Group Limited
Formerly
  • Go-Ahead Northern Limited (1987–1994)[1]
  • The Go-Ahead Group Plc (1994–2022)[1]
Company typeSubsidiary
Private Limited Company
ISINGB0003753778Edit this on Wikidata
IndustryPublic transport
Founded17 February 1987;37 years ago(1987-02-17)[1]
HeadquartersNewcastle upon Tyne,England[1]
Area served
  • United Kingdom
  • Ireland
  • Australia
  • Singapore
  • Norway
Key people
  • Miguel Parras (Group Chief Executive)
ProductsBus and rail services
RevenueIncrease£4,058.5 million (2021)[2]
Increase£115.5 million (2021)[2]
Increase£(40.7) million (2021)[2]
Number of employees
30,573 (2021)[2]
ParentKinetic Group(51%)
Globalvia(49%)
Websitego-ahead.comEdit this at Wikidata

The Go-Ahead Group was originally founded in February 1987 asGo-Ahead Northern Limitedas part of the widerprivatisationof theNational Bus Company.Early expansion centred around the acquisition of several smaller competing bus operators inNorth East Englandand operating as asubcontractortoNational Express;during the early 1990s, theBrighton & Hove,Oxford Bus Company,andLondon Centralwere all acquired. During May 1994, Go-Ahead wasfloatedon the London Stock Exchange.

In October 1996, Go-Ahead entered the UK railway sector via the operation of theThames Trainsfranchise. Via theGoviajoint venture, it bid for additional rail franchises in Britain, securing theThameslinkand later theSoutheasternandLondon Midlandoperations. During mid 2000, the French state-owned enterpriseCaisse des Dépts-Développement(C3D) attempted ahostile takeoverof Go-Ahead, which was successfully opposed by its management team.

In the late 1990s and early 2000s, Go-Ahead diversified into ground handling services at various British airports via the acquisition ofGatwick Handling International,British Midland,and Reed Aviation. During 2010, Go-Ahead disposed of its airport-based operations, the majority being sold toDnata UKandServisair.During the early 2010s, Go-Ahead acquired numerous other British transport companies, includingThames Travel,Carousel Buses,Hedingham,Anglian Bus,andHC Chambers & Son.During late 2015, it was contracted to operate bus and rail services in Germany andSingapore;in subsequent years, Go-Ahead also expanded into Ireland and Norway. On 28 September 2021, Britain'sDepartment for Transportterminated Go-Ahead'sSoutheastern franchiseafter the discovery of financial misconduct. During August 2022, a consortium of Australia'sKinetic Group(51%) and Spain'sGlobalvia(49%) took over Go-Ahead, having valued the company at £669 million. During January 2023, it was announced that Go-Ahead was expanding into the Australian market via theU-Go Mobilityjoint venture with the engineering companyUGL.

History

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Incorporation

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PreservedGo North EastMCW Metrobus

The Go-Ahead Group was originally founded asGo-Ahead Northern Limitedon 17 February 1987 as a consequence of theprivatisationof theNational Bus Company,during which a partialmanagement buyoutled byMartin BallingerandChris Moyespurchased itsGateshead-based northern division, known as theNorthern General Transport Company.[3]Early expansion of the company involved the acquisition of several smaller competing bus operators inNorth East England,such asGypsy Queenin 1989 andLow Fell Coachesin June 1992. Go-Ahead Northern also became asubcontractortoNational Express,operating services to the Midlands, North East, North West and South West England.[4][5]Around the same time, Go-Ahead Leisure purchased a number ofpubs,[4]which were sold on during February 1996.[5]

Despite bidding for a number of other larger bus operators in the intervening period, Go-Ahead's first major acquisition wasBrighton & Hovein November 1993,[4][6][7]followed by theOxford Bus Companyand Wycombe Bus Company in March 1994.[4]In May 1997, theBrighton & Hoveoperation expanded with the acquisition of the former municipal operator Brighton Transport.[8]During September 1999,Metrobus,a large operator operating in London, Surrey and Sussex was acquired.[6][9]

Floatation and into London

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Initially, Go-Ahead was structured as an unlisted public company and was owned 90 percent by its management. In May 1994, it wasfloatedon theLondon Stock Exchange.[4][10]

In October 1994, Go-Ahead purchasedLondon Centralduring theprivatisation of London Buses.[3][7][11]In March 1995,OK Motor Serviceswas purchased and integrated into theGo North Eastoperation.[11][12]In June 1996, a second London bus operation,London General,was acquired from the management team that had purchased it when privatised.[3][5][7]

Airport services

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In October 1998, Go-Ahead diversified with the acquisition ofGatwick Handling International,a provider of ground handling services at UK airports.[13]Go-Ahead acquired the ground handling operations ofBritish Midlandand Midland Airport Services in March 2001, followed by Reed Aviation in August 2001. All these operations, including at Gatwick, all were rebranded asAviance.[14]

In May 2002, Go-Ahead diversified again,[15]acquiring airport-focusedMeteor Parking.[16]Included in the purchase of Gatwick Handling International in 1998 was a 50% shareholding inPlane Handling,and in August 2004 Go-Ahead purchased the remaining 50% fromVirgin Aviation.[17]In December 2006Gatwick Airportparking operator PAS was purchased and integrated into Meteor Parking, followed by security provider Nikaro in February 2007.[18]

In January 2010, Go-Ahead disposed of most of its airport-based operations via a sale toDnata UKandServisair.[19]In September 2010, Meteor Parking was sold toVinci SA,bringing Go-Ahead's involvement in the aviation support industry to a close.[20]

1996 – 2010

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Entering the railway sector

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In October 1996, Go-Ahead entered the UK rail market when it commenced operating theThames Trainsfranchise, which it ran until March 2004. The franchise was awarded by theDirector of Passenger Rail Franchisingto Victory Rail Holdings; Go-Ahead owned 65% of the shares in Victory Rail Holdings with the remaining 35% held by some exBritish Railmanagers and employees.[8]Go-Ahead bought the remaining shares it did not own in June 1998.[21]

Also in 1996, Go-Ahead entered into theGoviajoint venture with French company VIA-GTI (which later becameKeolis), in order to bid for more UK rail franchises. Govia was 65% owned by Go-Ahead. Govia was awarded theThameslinkfranchise, which it ran from March 1997 until March 2006.[22]

During August 2001,Goviastarted running the South Central rail franchise. In October 2000, the ShadowStrategic Rail Authorityawarded Govia the South Central rail franchise with operations due to commence in May 2003 when theConnex South Centralfranchise expired.[23]Govia negotiated a deal withConnexto buy out the remainder of its franchise.[24][25]

Failed takeover and operations in Sweden

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During July 2000, French government ownedCaisse des Dépts-Développement(C3D) submitted a bid to purchase Go-Ahead; this offer, which was valued at £326 million, was promptly rejected by the company. Ahostile takeoverbid was issued by C3D one month later; it was declared to be "unwelcome" by Go-Ahead chairman Sir Frederick Holliday.[26]Go-Ahead pledged to fight for its independence and promoted its expansion plans to shareholders to persuade them to back the existing management team. C3D sought to integrate Go-Ahead with itsTransdev S.A.bus and light rail operator.[27][28]In October 2000, C3D's takeover effort came to nought.[29][30]

For a short time[when?],Go-Ahead entered into two joint ventures withVIA-GTIandBK Tågto operate rail services in Sweden. Go-Ahead had a 39% stake in City Pendeln AB which was to operate the Citypendeln commuter rail business inStockholm.Go-Ahead also had a 29% stake in Sydvasten AB which operated rail services betweenGothenburgandMalmö.Go-Ahead decided to exit from both ventures in May 2000.[9][31]

Wycombe Bus Company was sold toArrivain December 2000.[14]

Expansion into the Midlands and the South

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In August 2003, theWilts & Dorsetbus business was purchased.[32]In June 2005Solent Blue LineandSouthern Vectiswere purchased.[17]In September 2005, theLewesandSeafordoperations ofStagecoach Southwere acquired and integrated into theBrighton & Hovebusiness.[33]

During December 2005, Go-Ahead purchased The Birmingham Coach Company, which operated express coaches under contract forNational Expressand local bus services in the West Midlands under theDiamond Busname.[6][33]Go-Ahead had been known for some time to be keen to begin operating in the area. In February 2006, another operator in the West Midlands,Probus Management,trading asPeople's Express,was purchased.[6][33]

In August 2006, the Birmingham Coach Company (trading as Diamond Bus) and Probus operations were regrouped under theGo West MidlandsLimited legal entity, with the bus operations branded as Diamond in the West Midlands.[34]In February 2006, the Hants & Dorset Trim bus refurbishment business was purchased.[33]In April 2006, theGoviajoint venture commenced operating theSouth Eastern franchiseasSoutheastern.[35]

During September 2006,Docklands Buseswas acquired and integrated intoGo-Ahead London,followed in October 2006 byMarchwood Motorwayswhich was integrated intoGo South Coast.[18][36]

In June 2007,Blue Trianglewas acquired and integrated into Go-Ahead London.[18]In September 2007, Northumbria Coaches was purchased and integrated intoGo North East,followed by Stanley Buses (the bus service subsidiary of Stanley Taxis) in October 2007, and Redby Buses in January 2008.[37]In November 2007,Goviabegan operating theLondon Midlandrail franchise.[18]In December 2007, theOrpingtonservices ofFirst Londonwere acquired.[37]

In February 2008, Go-Ahead soldGo West MidlandstoRotala'sCentral Connect,two years after purchasing the company.[37]In June 2008, theGatwick Expressrail service was incorporated intoSouthern.[37]In October 2009,East Thames Buseswas acquired and integrated intoGo-Ahead Londonas well as the Horsham operations ofArriva Southern Countiesthat were integrated intoMetrobus.[38]In December 2009,Plymouth Citybuswas purchased fromPlymouth City Council.[38]In March 2010,Konectbusin Norfolk was purchased as well as theHexhamoperations ofArriva North Eastand integrated intoGo North East.[20]

American operations

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In August 2010, Go-Ahead America, a joint venture with Cook Illinois in which Go-Ahead held a 50% stake, commenced operating a yellow school bus contract inSt Louis,Missouri.[20]In July 2014, Go-Ahead exited the United States following the loss of its yellow bus contract.[39][40]

Since 2011

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Acquisitions

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AnOxford Bus CompanyMercedes Citaro in Wolvercote

In May 2011, Go-Ahead acquiredThames TravelinSouth Oxfordshire.[20]Acquisitions in 2012 wereCarousel Buses(March) integrated intoOxford Bus Company,Essex-basedHedingham(March), theNorthumberland Park-based operations ofFirst London(March),Anglian Bus(April) inNorfolkandSuffolk,andHC Chambers & Son,Suffolk (June) (immediately operationally merged with Hedingham).[41]

In March 2012, theDepartment for Transportannounced that Go-Ahead, along withAbellio,FirstGroup,MTR,andStagecoach,had been shortlisted for the newly createdThameslink, Southern & Great Northern franchise.[42]During May 2014, Govia was awarded the new franchise.[43][44]This franchise is unusual as a management contract where fare income does not go to GTR, which is simply paid a fee for operating the service, so GTR carries less revenue risk. This form of franchise was chosen because of long-term engineering works anticipated around London, which would be a significant challenge to organise within the normal form of franchise.[45][46]

Expansion into Europe and Singapore

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Volvo B9TLin Singapore in June 2016

During November 2015,Go-Ahead Singaporewas awarded a contract to operate 25 bus services in Singapore previously operated bySBS Transitout ofLoyang Bus Depot,which commenced on 4 September 2016.[47]In the same month,Go-Ahead Germanywere awarded two rail contracts inStuttgart,Germany. The contracts commenced in 2019–2020.[48]

In August 2017, Go-Ahead won a tender to run 24 routes previously operated byDublin Bus.Go-Ahead Irelandcommenced the contract with theNational Transport Authorityto operate these routes on 9 September 2018.[49][50][51][52]In June 2018,East Yorkshire Motor Serviceswas purchased with over 300 buses.[53]In January 2019, Go-Ahead Ireland commenced operating a further six routes betweenDublinand its outlying commuter towns, previously operated byBus Éireann.[54][55]

During October 2018, Go-Ahead won a tender to run the Oslo south package, consisting of three routes previously operated by NSB.Go-Ahead Norgecommenced the contract with theNorwegian Railway Directorateto operate these routes in December 2019.[56]

Manchester and Cornwall

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In February 2019, Go-Ahead announced it would buyFirst Greater Manchester'sCheetham Hilldepot with 163 buses and brand itGo North West.[57][58][59]

During March 2020,Go Cornwall Buspartnered withCornwall Counciland local operators to form a newTransport for Cornwallbrand, with plans calling for an additional 130 vehicles.[60]

Termination of Southeastern rail franchise

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On 28 September 2021, the Department for Transport announced it would terminate theSoutheastern franchisethe following month after the discovery of financial misconduct.[61]Southeastern had not declared over £25million that should have been repaid to the government in the period since 2014. Go-Ahead's Chief Financial Officer resigned over this matter.[62]

On 9 December 2021, the company announced that its auditors needed more time to consider the implications of the misconduct and potential fines from the Department for Transport (DfT). Consequently, the annual results would not be ready at the end of the company's financial year on 2 January 2022, which would oblige the company to request suspension of trading in its shares. The share price fell by about 15% on the day of the announcement.[63]

On 24 February 2022, Go-Ahead published their delayed 2020–21 results, and announced the outcome of investigations into the termination of the franchise. The review found that "serious errors had been made” since 2006, with the expected cost to the company to be over £80million.[64][65]The amount owed to the DfT was increased to £51.3million, with errors dating back to 2006.[64][65]Go-Ahead also stated that they expect to have to pay a fine to the DfT, setting aside up to £30million for this.[66]Go-Ahead also stated that they may also owe DfT an additional £21.3million, related to a dispute over profit sharing.[65]

Takeover

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On 13 June 2022, a consortium of Australia'sKinetic Group(51%) and Spain'sGlobalvia(49%) launched a takeover bid of Go-Ahead, initially valuing the company at £647 million.[67][68]Two months later, the offer was increased to £669 million.[69]Shortly thereafter, 78.6% of Go-Ahead's shareholders voted to accept the offer.[70][71]

Expansion and changes

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During January 2023, it was announced that Go-Ahead was expanding into the Australian market via theU-Go Mobilityjoint venture with the engineering companyUFL;this venture had been recently awarded a contract by Transport New South Wales to operate buses inSydney.[72]In June 2023, Go-Ahead bought Pulhams Coaches, expanding its presence into theCotswolds.[73]

In mid 2023, Go-Ahead Group announced that it was procuring a new fleet ofhydrogen fuel cellbuses to serve routes aroundGatwick Airport,Crawley,andHorley;comprising 54 vehicles, it will be one of the largest hydrogen bus fleets present in the UK.[74]The company has also invested £30 million on establishing a liquid hydrogen refuelling station, the first such facility serving buses in Europe.[75]

Sale of German rail division

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On 12 October 2023, the company entered into an agreement to sellGo-Ahead GermanytoÖBB;the sales process was completed on 1 February 2024, after approvals have been obtained from various international authorities under competition law.[76]

Stockholm Metro

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In January 2024,Connecting Stockholm,which is majority-owned by Go-Ahead (55%) was awarded the operation contract for theStockholm Metrosystem. The contract will be worth approximatelySEK40 billion over its 11 year period and will commence in May 2025, taking over from the present operator,MTR.[77][78]

Operations

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The company's operations include:[79]

Bus operations

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United Kingdom
Singapore
Ireland
Australia

Current rail franchises

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The company operates the following franchise throughGovia,its joint venture withKeolis:

The company also operates railway lines internationally:

Previous rail franchises

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  • Thames Trains– October 1996 to March 2004
  • Thameslink– March 1997 to March 2006 (through the Govia joint venture with Keolis)
  • London Midland– November 2007 to December 2017 (Govia)[82][83]
  • Southeastern– April 2006 to October 2021 (Govia).[84]Govia was stripped of the franchise after a serious financial breach of the agreement.[62]

Previous subsidiaries

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  • Go-Ahead Germany– operated rail services in Baden-Württemberg and Bavaria
  • Southdown Buses– previously operated bus services in East Surrey and Kent, acquired on 1 February 2023,[85]ceased operations on 2 September 2023[86]

References

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  1. ^abcd"The Go-Ahead Group Limited overview - Find and update company information - GOV.UK".Companies House.17 February 1987.Retrieved15 September2024.
  2. ^abcd"Annual Report 2021".Go-Ahead Group.Retrieved3 March2022.
  3. ^abcChris Moyes obituaryArchived2 October 2013 at theWayback MachineThe Times18 September 2006
  4. ^abcdeGo-Ahead Annual Report 30 June 1994Archived23 November 2012 at theWayback MachineGo-Ahead Group
  5. ^abcGo-Ahead Annual Report 29 June 1996Archived23 November 2012 at theWayback MachineGo-Ahead Group
  6. ^abcdTimes 100 Case StudyArchived6 September 2008 at theWayback Machine
  7. ^abcGo-Ahead HistoryArchived14 October 2013 at theWayback MachineGo-Ahead Group HandbookBritish Bus Publishing
  8. ^abGo-Ahead Annual Report 28 June 1997Archived23 November 2012 at theWayback MachineGo-Ahead Group
  9. ^abGo-Ahead Annual Report 1 July 2000Archived23 November 2012 at theWayback MachineGo-Ahead Group
  10. ^"All aboard for Go Ahead's float".The Independent.11 March 1994.
  11. ^abGo-Ahead Annual Report 30 June 1995Archived23 November 2012 at theWayback MachineGo-Ahead Group
  12. ^The Go-Ahead Group plc and OK Motor Services Limited: A report on the merger situation[usurped]Competition Commission1996
  13. ^Go-Ahead Annual Report 3 July 1999Archived23 November 2012 at theWayback MachineGo-Ahead Group
  14. ^abGo-Ahead annual results 30 June 2001Archived23 November 2012 at theWayback MachineGo-Ahead Group
  15. ^"Go-Ahead Annual Report 29 June 2002"(PDF).Archived fromthe original(PDF)on 23 November 2012.
  16. ^"Meteor parking website".Go-Ahead Group.
  17. ^abGo-Ahead Annual Report 2 July 2005Archived23 November 2012 at theWayback MachineGo-Ahead Group
  18. ^abcdGo-Ahead Annual Report 30 June 2007Archived23 November 2012 at theWayback MachineGo-Ahead Group
  19. ^Go-Ahead to Sell the Majority of its Aviation Ground Handling and Cargo OperationsArchived23 November 2012 at theWayback MachineGo-Ahead Group 3 December 2009
  20. ^abcdGo-Ahead Annual Report 2 July 2011Archived23 November 2012 at theWayback MachineGo-Ahead Group
  21. ^Go-Ahead Annual Report 27 June 1998Archived23 November 2012 at theWayback MachineGo-Ahead Group
  22. ^"Extension not competition as franchise replacement stalls".Railway Gazette International.1 September 2001.Retrieved21 April2017.
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  29. ^Court, Mark (11 October 2000)."C3D set to raise bid for Go Ahead".The Times.
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  34. ^"Diamond Bus Introduction".Reddibus. Archived fromthe originalon 23 February 2015.Retrieved21 April2017.
  35. ^"Department for Transport announces integrated Kent franchise".Department for Transport.30 January 2006. Archived fromthe originalon 10 February 2012.
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  54. ^"Go-Ahead awarded Dublin Commuter Routes".Coach & Bus Week.No. 1334. 20 March 2018. p. 8.
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  56. ^"Go-Ahead wins first rail contract to be awarded in Norway".Go-Ahead Group. 17 October 2018.
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  59. ^"First Manchester are selling 160 buses and their Cheetham Hill depot for £11.2 million".Manchester Evening News.19 February 2019.
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  62. ^abTopham, Gwyn; Kollewe, Julia (28 September 2021)."Government to take over Southeastern after 'serious' breach of franchise".The Guardian.Retrieved28 September2021.
  63. ^Willems, Michael; Russell-Jones, Lily (9 December 2021)."Train operator Go-Ahead admits to 'serious errors and failures' as shares suspended".CityAM.Retrieved10 December2021.
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  65. ^abcTopham, Gwyn (24 February 2022)."Dramatic increase to £80m in cost of Southeastern train accounting scandal".The Guardian.Retrieved24 February2022.
  66. ^Georgiadis, Philip (24 February 2022)."Go-Ahead sets aside £30mn for Southeastern rail penalty".Financial Times.Retrieved24 February2022.
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  68. ^"We submit together with Kinetic an offer for the acquisition of Go-Ahead".Globalvia.14 June 2022. Archived fromthe originalon 17 August 2022.
  69. ^Wise, Anna (4 August 2022)."Go-Ahead suitors raise takeover offer by £22m".standard.co.uk.
  70. ^"Result of Meeting".Go-Ahead Group. 16 August 2022. Archived fromthe originalon 17 August 2022.
  71. ^Keighley, Tom (16 August 2022)."Go-Ahead shareholders approve £669m takeover by international joint venture".business-live.co.uk.
  72. ^"Go-Ahead Group enters Australia bus market with JV".route-one.net. 3 January 2023.
  73. ^"Go-Ahead expands into the Cotswolds by buying Pulham & Sons".Gloucester News Centre.8 June 2023.Retrieved8 June2023.
  74. ^"Go-Ahead Group launches UK's largest hydrogen bus fleet".intelligenttransport.com. 30 June 2023.
  75. ^"Go-Ahead Group invest £30m into a hydrogen bus fleet, creating greener and cleaner bus travel".climateaction.org. 4 July 2023.
  76. ^"ÖBB & Go-Ahead Germany form a Partnership for German local transport".ÖBB Newsroom.Retrieved12 October2023.
  77. ^"Efter fiasko i England – nu tar hårt kritiserat bolag över Stockholms tunnelbana".SVT Nyheter(in Swedish). 25 January 2024.Retrieved25 January2024.
  78. ^"Connecting Stockholm AB vinner tunnelbaneupphandling".Region Stockholm(in Swedish). 24 January 2024.Retrieved25 January2024.
  79. ^"Who we are".Go-Ahead Group.Retrieved3 March2020.
  80. ^"Go South West buys Exeter-based bus company".BBC News.15 November 2022.Retrieved3 February2023.
  81. ^"Go-Ahead joint venture to operate in Sydney".Bus and Coach Buyer.22 December 2022.Retrieved23 December2022.
  82. ^More seats for rail passengers as nearly £1 billion is invested in Midlands servicesDepartment for Transport 10 August 2017
  83. ^West Midlands Trains announced as winning bidder for West Midlands franchiseArchived10 August 2017 at theWayback MachineAbellio 10 August 2017
  84. ^"Critical rail services protected in new deals for GWR and Southeastern".GOV.UK.Department for Transport. 30 March 2020.Retrieved27 June2020.
  85. ^"Southdown to join Brighton and Hove Buses owner Go Ahead | The Argus".www.theargus.co.uk.3 February 2023.Retrieved3 February2023.
  86. ^"Southdown is joining the Metrobus family | Metrobus".
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