CUS­TOM BUS SOLD - TELFORDS NEW OWNER

ABC (Australia) - - NEWS -

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”.

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