McGill's bus company hints at flotation plans

Image source, McGill's

Speculation is mounting that one of Scotland's largest independent bus firms is preparing to float on the stock market.

It follows the appointment by McGill's of former Arriva chief executive David Martin as a non-executive director.

In announcing the move, McGill's said Mr Martin's "experience of managing flotations" would "prove to be invaluable."

McGill's declined to expand when approached by BBC Scotland.

Greenock-based McGill's Bus Service Ltd is owned by Arranglen, the investment vehicle of the Easdale family.

It runs buses in Glasgow, Renfrewshire, East Renfrewshire and Inverclyde, as well as North and South Lanarkshire.

In its most recent financial results, the firm reported turnover of £40m, along with a 12.5% rise in pre-tax profits.

Image caption,
David Martin stepped down as chief executive of transport giant Arriva last December

In announcing Mr Martin's appointment, McGill's chairman James Easdale said: "McGill's is entering a new phase with this appointment.

"David will be invaluable when it comes to new acquisitions, both here in the UK and abroad.

"His experience of managing flotations will also prove to be invaluable."

McGill's managing director Ralph Roberts added: "David Martin is one of the leading figures in the transport industry and he oversaw the international development of Arriva across Europe and facilitated its acquisition by Deutsche Bahn in 2010.

"He brings with him decades of experience and a vast expertise that will help us as we continue to expand."

Mr Martin continues to advise the boards of Arriva and DB Group, having stepped down from the chief executive role at Arriva in December last year.

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