WK Corporate Finance has successfully advised Lucketts Group on their acquisition of Mortons Travel Limited.
Lucketts has accelerated its expansion plans, with its second acquisition in just four months. The coach company has acquired North Hampshire-based Mortons Travel, just a few months after adding Solent Coaches to its growing portfolio. The move brings Lucketts’ total number of vehicles to around 175 and widens its reach in the north of the county and beyond into Berkshire.
As part of the acquisition all 60 staff of Mortons Travel will be retained by the company and managing director Tony Lawman said the plan is to grow the fellow family business. Mortons Travel will retain its name, coaches and extensive client portfolio. Should, however, it need to call on extra resources it now has the operational backing of Lucketts Group, which incorporates Lucketts Travel, Coliseum Coaches, Solent Coaches and Worthing Coaches.
The former shareholders of Mortons Travel, Adrian and Joanne Morton, say they wanted to pass the thriving company on to a fellow family business and now look forward to spending more time with their young children. Mortons Travel is synonymous in the industry for its smartly-presented fleet, most notably its 100-seat high-capacity tri-axle double deckers. It has built itself a formidable reputation across all areas of coach travel.
Adrian Morton said: “Having grown the company over a period of 14 years it felt like the right time to pass the business on to someone who could develop it long into the future. Lucketts has an enviable reputation in the business and we felt our loyal customers and staff would be in safe hands.”
Lucketts currently employs more than 300 people and provides popular day trips, European holidays and coach hire services. It runs more than 100 journeys each day for National Express.
Tony Lawman, Managing Director of Lucketts Travel said: “We were impressed with the WK Corporate Finance team who were responsive, thorough and provided excellent practical advice throughout the duration of our due diligence project. We would highly recommend the WK team and intend to use them again”
If you have any questions in relation to this deal or the sector, please contact:
T: 01962 852 263
T: 01962 852 263