Lucketts Holdings Ltd

Meridian advised the shareholders of family owned Lucketts Holdings Ltd, on their sale to leading, multinational public transport company National Express plc.

Established by Harry Luckett 94 years ago with a foundation in haulage and storage, Lucketts has grown to become the largest coach operator on the South Coast and one of the most recognisable brands in the region. Successive generations of the Lucketts family have contributed to building the business to its current size, employing 350 people and operating a fleet of 160 coaches. Also operating under the banners of Coliseum Coaches, Solent Coaches, Morton’s Travel and Worthing Coaches, the business has driven innovation in the sector, in areas including safety and scheduling.

 

The current Lucketts management team, led by managing director Tony Lawman, will remain in place reporting into Tom Stables, National Express Managing Director, UK and Germany. The business will continue to trade under its existing brand names.

National Express, which was founded nearly 50 years ago and headquartered in Birmingham, operates bus, coach, train and tram services in the UK, US, Canada, Spain, Portugal, Malta, Germany, Bahrain and Morocco as well as long-distance coach services across Europe. Tom Stables said, “We already have a strong relationship with Lucketts so know it is a fantastic company with an excellent record of delivering high-quality services. The acquisition enables us to expand further into the private hire and tours market and we look forward to welcoming all our new colleagues to National Express.”

 

Ian Luckett said, “We enjoyed working with Meridian during what is inevitably a challenging time, as we take the positive step to pass on ownership of a business that has been part of our family for generations. There is a lot of work and trust involved in a process like this and we are very glad to have chosen Meridian. We are delighted that Lucketts Group is joining National Express with whom we have had a strong relationship for many years.”

 

Meridian Corporate Finance said, “We at Meridian have really enjoyed working with the Luckett family and are pleased that their business is transferring to an excellent acquirer in National Express. National Express have the expertise and presence to keep the Lucketts Group at the forefront of the sector and build on the work of the last 94 years!”

 

Professionals advisers involved included, Blake Morgan, who provided legal advice to the Luckett family and DSA who provided tax advice.