Iwi partners purchase Go Bus
Posted by: Te Rūnanga o Ngāi Tahu
Ngāi Tahu Holdings Corporation (NTHC) and Tainui Group Holdings (TGH) have conditionally purchased Go Bus from Australian Private Equity firm Next Capital. NTHC is the majority investor with a two-thirds share and TGH has a one-third share. The purchase is due for completion September 30.
Go Bus is one of New Zealand’s leading passenger transport businesses, servicing metropolitan urban routes, providing school bus services, and charter operations. These services are based at depots stretching from Auckland to Invercargill.
NTHC and TGH have welcomed the opportunity to invest in an excellent New Zealand business.
“Combined, TGH and ourselves have assets in excess of $2 billion with a mandate for reinvestment and growth. Go Bus is the type of investment we seek – it’s a well-run business in a sector we are comfortable with, and is led by an excellent team,” says NTHC Chief Executive Mike Sang. “Go Bus will enable us to further grow and diversify our portfolio in a way that is complementary to the rest of our investments.”
TGH CEO Mike Pohio says, “Go Bus has a strong regional presence and is well placed to grow its footprint nationally.”
Go Bus CEO Calum Haslop says, “We are delighted to have Ngāi Tahu and TGH join the Go Bus family and we welcome them on board. The Go Bus management team are extremely proud of our achievements to date and we see both Iwi as sophisticated long term investors. They are a natural partner for our business as we continue our journey to becoming New Zealand’s leading Passenger Transport operator.”
Go Bus offers the full spectrum of bus services, including Charter, Special Needs Transport, Schools and Urban services. The company enjoys a 5 Star ORS Rating from NZTA and is proud to have Tertiary Status for ACC Workplace Safety and Management practices.