Investor in gear with coach operator deal

An investment firm has driven forward its portfolio with a travel operator deal.

Alpro Capital has bought Lee’s Coaches.

The company says the move for the County Durham-headquartered company provides a route into an annual £8 billion UK coach travel market.

Founded in the 1960s, Langley Moor-based Lee’s Coaches employs 30 staff and provides holidays and day trips, as well as school and sports team services.

The deal represents the first investment by North East-based Alpro Capital, which was founded by David Alprovich to buy and grow businesses with EBITDA between £250,000 and £750,000. 

David, managing director, said: “I looked at more than 100 opportunities and met with over 40 business owners across a range of sectors before acquiring Lee’s Coaches.

“Lee’s stood out because of its heritage, strong reputation, loyal customer base and experienced team. 

“We’re looking at new marketing channels and using data to maximise fleet utilisation, and in the future, I feel bolt-on acquisitions could be an attractive route to growth.”

The deal was supported by Middleton Enterprises, with legal advice provided by Mincoffs’ Chris Hughes and financial due diligence from Ryecroft Glenton.

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