Kinetic expands globally following completion of Go-Ahead acquisition
Although Go-Ahead will remain a standalone business, Kinetic’s consortium will support the UK-based company’s existing team to accelerate the transition of its bus fleet to zero-emission technology.
Australasian bus operator Kinetic has announced that it is set to expand globally after successfully completing the acquisition of UK-based The Go-Ahead Group plc under a joint venture arrangement. The acquisition has been completed under a consortium with Globalvia.
Go-Ahead has taken significant steps towards decarbonising its business and is now one of London’s largest operators of electric buses. The company operates 3,700 low and zero-emission electric buses, including over 300 battery electric buses (BEB). The company will shortly begin operating its first hydrogen buses in area around London’s Gatwick airport.
The acquisition will see Kinetic more than double its existing fleet and expand its capabilities, transforming the company into a global, multimodal owner and operator delivering essential public transport services.
Kinetic is currently the largest bus operator in Australia and New Zealand with almost 5,000 buses in its fleet. The acquisition will give all three businesses the chance to share best-in-class knowledge and technology and pursue new business opportunities together across the globe.
While Go-Ahead will remain a standalone business, the consortium is committed to facilitating the transition of Go-Ahead’s bus fleet from diesel to zero-emission technology under the company’s existing strategy, and partnering with governments to reach a zero-emission public transport status.
Kinetic Co-CEO, Michael Sewards, said: “This acquisition significantly enhances the scale and scope of our operations as a multimodal, mass transit platform. Together with Globalvia and the Go-Ahead team, we are combining significant bus operations, infrastructure solutions and decarbonisation expertise. Kinetic is well-positioned to provide support and patient capital to facilitate the rapid electrification of Go-Ahead’s bus fleet to net zero. This is fully aligned with Kinetic’s long-term strategic focus for Australia and New Zealand to have the first fully electric bus fleet in Australasia by 2035.”
Go-Ahead CEO, Christian Schreyer, said: “The consortium will support our existing management and leadership team to accelerate the delivery of Go-Ahead’s ‘Next Billion Journeys’ growth strategy, and to become a net zero company.”
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