Reading Buses and Thames Valley

[Bwsbro]

Reading buses have acquired Courtney Buses in the Bracknell area. The Courtney brand will takeover routes from Reading’s Thames Valley subsidiary

Reading Buses have agreed terms to purchase local independent operator Courtney Buses.

Founded in 1973 as a taxi firm before moving into coaches and later buses, Courtney Buses now operates a fleet of 57 buses on a network of services, including commercial local bus services in Bracknell and Slough, tendered services on behalf of Bracknell Forest, Wokingham Borough and the Royal Borough of Windsor & Maidenhead Councils, and several high-profile corporate contracts as far afield as Basingstoke, Didcot and Weybridge.

The acquisition also includes Courtney Bodyworks – which offers a range of vehicle repairs and a full-size bus paint shop – and Courtney Authorised Testing Facility, which is equipped to carry out MOT tests on large vehicles.

Robert Williams, Chief Executive Officer of Reading Buses, said: “We see this as a significant fit for Reading Buses, both in terms of complementary local bus network, high quality, high profile operations, our expansion into the wider Thames Valley, and also the supporting businesses.

“This well-run business will provide a return to our shareholder over time that will justify and repay the initial capital outlay and will allow the wider Reading Buses group – consisting of Reading Buses, Newbury & District and Courtney Buses – to become more efficient by integrating routes and tickets and sharing overheads.”

Bill Courtney-Smith, Founder and Managing Director of Courtney Buses, said: “Courtney Buses has prided itself on quality, value and integrity. Our motto – Driven by Service – really says it all. I am pleased to be passing the reins to another company which holds these values in such high regard, and one that has been recognised as such by the wider industry on numerous occasions. I wish the team well.”

Reading Buses says that business will continue as normal for the time being whilst the acquisition is completed, and a full review takes place to start bringing the two organisations together.

With the retirement of founder Bill Courtney-Smith, Courtney Buses will eventually expand to incorporate Reading Buses’ existing Thames Valley operation in Slough under Courtney Buses General Manager Simon Fisher.

 

[carlberry]

It's odd that, after all the years of the number of municipal operators being reduced by sales and closures suddenly, under a Conservative government, the remaining ones are suddenly expanding again (Edinburgh by competition and Reading by purchases).

 

[Non Multi]

Didn't foresee this happening! It's rarely dull in the Thames Valley...

I wonder what the Royal Borough of Windsor and Maidenhead, and Bracknell Forest Council will make of this development. The majority of their financially supported bus services will now be operated by an arms-length offshoot of Reading Borough Council.

Slough Borough Council seem to be quite happy with Reading Transport's Slough operations AFAIK.

 

[TheGrandWazoo]

It's odd that, after all the years of the number of municipal operators being reduced by sales and closures suddenly, under a Conservative government, the remaining ones are suddenly expanding again (Edinburgh by competition and Reading by purchases).

Even more odd when you remember that they pared back Newbury operations less than 10 years ago

 

[overthewater]

Im surpised thames Valley brand isn't staying.

 

[TheGrandWazoo]

Im surpised thames Valley brand isn't staying.

It doesn’t say that

 

[overthewater]

It doesn’t say that

From the first post
"The Courtney brand will takeover routes from Reading’s Thames Valley subsidiary"

Has the op made a minor error?

 

[winston270twm]

Even more odd when you remember that they pared back Newbury operations less than 10 years ago

Haven't Reading recently had a new MD in the last 6 months of so?

 

[busken]

It's odd that, after all the years of the number of municipal operators being reduced by sales and closures suddenly, under a Conservative government, the remaining ones are suddenly expanding again (Edinburgh by competition and Reading by purchases).

Reading Borough Council who ultimately own Reading Buses is Labour controlled.

 

[Bwsbro]

Im surpised thames Valley brand isn't staying.

As in the original Post

Courtney Buses will eventually expand to incorporate Reading Buses’ existing Thames Valley operation in Slough

 

[cactustwirly]

Didn't foresee this happening! It's rarely dull in the Thames Valley...

I wonder what the Royal Borough of Windsor and Maidenhead, and Bracknell Forest Council will make of this development. The majority of their financially supported bus services will now be operated by an arms-length offshoot of Reading Borough Council.

Slough Borough Council seem to be quite happy with Reading Transport's Slough operations AFAIK.

Plus Wokingham Borough Council as well!

 

[carlberry]

As in the original Post

The press release could be interpreted in different ways. It may be the brand is kept but the vehicles are relocated to operate from Courtney's site for example. I suspect (given Reading's history) that the current Courtney livery will change in time anyway.

 

[TheGrandWazoo]

From the first post
"The Courtney brand will takeover routes from Reading’s Thames Valley subsidiary"

Has the op made a minor error?

Possibly

My reading of that is that the TV operations in Slough will be operated from the Courtney base (in Bracknell?). Now that MIGHT mean the Thames Valley name going, and certainly Courtney has an excellent reputation, but it (the announcement) doesn’t mention brands as such.

 

[Whiteway215]

Any chance of Reading acquiring First Berkshire or is that a takeover too far???

 

[Non Multi]

Plus Wokingham Borough Council as well!

Very true, but I personally don't know enough about Wokingham BC's supported routes to add them to the list.

Possibly

My reading of that is that the TV operations in Slough will be operated from the Courtney base (in Bracknell?). Now that MIGHT mean the Thames Valley name going, and certainly Courtney has an excellent reputation, but it (the announcement) doesn’t mention brands as such.

Reading Transport's Slough operation is currently run out of a little old building opposite the Bus Station that was only recently used as a Slough BC cycle parking facility. It would make sense to relocate to Courtney's depot (IIRC the former First Beeline depot) in Bracknell.

 

[cactustwirly]

Very true, but I personally don't know enough about Wokingham BC's supported routes to add them to the list.

Reading Transport's Slough operation is currently run out of a little old building opposite the Bus Station that was only recently used as a Slough BC cycle parking facility. It would make sense to relocate to Courtney's depot (IIRC the former First Beeline depot) in Bracknell.

I believe the 126/128/129 routes operated by Courtney are WBC contracts, there's also some other routes around Wokingham that are also WBC supported

 

[winston270twm]

Any chance of Reading acquiring First Berkshire or is that a takeover too far???

There's not a great deal left of it is there?

 

[cactustwirly]

There's not a great deal left of it is there?

They've got quite a few routes in Slough, plus the lucrative Heathrow services.

 

[TheGrandWazoo]

Any chance of Reading acquiring First Berkshire or is that a takeover too far???

Arguably makes it less likely?

 

[Non Multi]

Any chance of Reading acquiring First Berkshire or is that a takeover too far???

Beeline is still a profitable little operation for First Group, and whilst it remains so I doubt FG will be too eager to sell.

 

[Non Multi]

On a personal note, I never ever thought that my nearest bus route (53 Bracknell - Wexham Park Hospital) would end up being operated by a Muni.

 

[Bwsbro]

Any chance of Reading acquiring First Berkshire or is that a takeover too far???

That was the acquisition I’d have predicted rather tha Courtney

 

[overthewater]

If Reading make a decent offer First would most likely take it and run. It should also be noted, there wouldn't be enough competition since most don't compete with each other in Slough. Thats a lot of if's and butts.

 

[Non Multi]

That was the acquisition I’d have predicted rather tha Courtney

As others have posted on older threads Bill Courtney-Smith is getting on a bit, so selling up is not really a surprise. What I was expecting though was a sale to a major bus group or another independent.

 

[TheGrandWazoo]

Haven't Reading recently had a new MD in the last 6 months of so?

Robert Williams after they lost Martijn Gilbert to Go North East

 

[alex397]

This is an interesting development! Quite unexpected.

There certainly aren't many operators expanding at the moment, especially to the level that Reading Buses has done in recent times.

 

[Wirewiper]

Didn't foresee this happening! It's rarely dull in the Thames Valley...

I wonder what the Royal Borough of Windsor and Maidenhead, and Bracknell Forest Council will make of this development. The majority of their financially supported bus services will now be operated by an arms-length offshoot of Reading Borough Council.

Slough Borough Council seem to be quite happy with Reading Transport's Slough operations AFAIK.

Also Wokingham and West Berkshire don't seem to mind supporting services operated by a company owned by another local authority! Wokingham BC even has a Quality Bus Partnership with Reading Buses.

Wokingham supports the 19A/19C Woodley circulars, and the Kennections services based on Newbury are operated under contract to West Berkshire.

 

[Surreyman]

If Reading make a decent offer First would most likely take it and run. It should also be noted, there wouldn't be enough competition since most don't compete with each other in Slough. Thats a lot of if's and butts.

Don't forget that First operate the Reading to Heathrow Rail Air coach service from Reading Transports depot, all the coaches are based in Reading and I believe are serviced by RT or at least by arrangement with them, so First and Reading Transport have a commercial relationship.
I have always suspected (but cannot prove) that the Rail Air service is the main profit driver in the First - Beeline(Slough) company.

 

[TheGrandWazoo]

Don't forget that First operate the Reading to Heathrow Rail Air coach service from Reading Transports depot, all the coaches are based in Reading and I believe are serviced by RT or at least by arrangement with them, so First and Reading Transport have a commercial relationship.
I have always suspected (but cannot prove) that the Rail Air service is the main profit driver in the First - Beeline(Slough) company.

With Reading Transport having already purchased N&D and now Courtney, it makes it even less likely that they will be able to buy the remaining major Berkshire operator without the CMA wanting to have a look? Remember that Reading bought the Bracknell service in advance of First pulling the plug on that depot - it may well that RB have already gauged the appetite to sell and have moved to other targets?

Certainly, Courtney is a fine operator and ruthlessly (and professionally) exploited the weaknesses of First's business model as they ceded Maidenhead to them, giving Courtney the invitation to then take them on in Bracknell.

 

[cactustwirly]

With Reading Transport having already purchased N&D and now Courtney, it makes it even less likely that they will be able to buy the remaining major Berkshire operator without the CMA wanting to have a look? Remember that Reading bought the Bracknell service in advance of First pulling the plug on that depot - it may well that RB have already gauged the appetite to sell and have moved to other targets?

Certainly, Courtney is a fine operator and ruthlessly (and professionally) exploited the weaknesses of First's business model as they ceded Maidenhead to them, giving Courtney the invitation to then take them on in Bracknell.

But most of Courtney's routes are council contracts