CUSTOM BUS SOLD - TELFORDS NEW OWNER
EXCLUSIVE: Custom Buses Holdings Pty Ltd has been sold to Telfords Bus & Coach, announced as of April 5
On 16 March 2018, Worrells Solvency & Forensic Accountants successfully sold the business of Custom Bus Australia Pty Ltd to Telfords Bus & Coach, part of the Dunn Group and a leading Australian bus and coach charter company supplying transportation since 1978.
While several offers were received by the Administrators – Simon Cathro and Aaron Lucan – in the weeks preceding the sale, the Telfords offer provided the highest return to creditors and achieved the aim of saving an Australian manufacturing business integral to the local economy.
Custom Bus is a manufacturer operational since 1955, which has focused on building high-quality buses for the Australian transport industry. In recent years, it has primarily built buses for use by the New South Wales and South Australian Governments. In the coming weeks, the business will be moved from its current location to a site in New South Wales that is more suitable for Telfords operations.
With regards to the sale, Simon Cathro stated: “We are happy to find a buyer willing to purchase the business in its entirety and continue to trade the operation. It was also pleasing that Telfords, who is a successful Australian operation, will see the business continue to operate in Australia, supporting local jobs”.