National Express buys US school bus firm
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.NATIONAL EXPRESS yesterday became America's third-biggest school bus player by buying its fourth-largest operator for pounds 109m. Purchase of the Texas-based Durham Transportation makes a total fleet of 5,600 vehicles transporting 115 million pupils a year.
A scramble has broken out among UK bus operators to snap up US school bus businesses. Last month FirstGroup paid pounds 600m for the second-largest operator, Ryder Public Transportation Services.
The US school bus market is worth $13bn and is growing strongly with a second baby boom. There are some 5,000 operators, mainly very small businesses, and only 30 per cent of school bus services have so far been let to private contractors.
Durham Transportation has 3,500 buses and transports 430,000 students a day in Texas, California, Idaho, Washington and Oregon. Last year it made pre-tax profits of $14.1m (pounds 8.6m) on turnover of $104m.
This is National Express's fourth purchase of a US school business. It acquired Crabtree-Harmon for pounds 12m in 1998 and Chicago-based Robinson Bus Service this February for pounds 14m. It also bought the much smaller Bauman Bus for an undisclosed sum.
Phil White, chief executive of National Express, aims to convert more school bus services from public to private and consolidate the market. The chief executive of Durham, Larry Durham, will run all National Express's US operations.
Outlook, page 15
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments