FirstGroup PLC Acquires Matthews Coaches

FirstGroup PLC Acquires Matthews Coaches

Azets Ireland advises on the sale of Matthews Coaches to FirstGroup PLC.

Azets Ireland is pleased to have advised Matthews Coaches, an independent coach operator based in Inniskeen, Co. Monaghan, on its acquisition by FirstGroup PLC. The acquisition strengthens FirstGroup’s presence in the Irish transport sector, expanding its portfolio of services while enhancing connectivity across key routes.

Matthews Coaches operates a fleet of coaches and provides a variety of transport services, including commuter and private hire offerings. The acquisition aligns with FirstGroup’s strategic focus on growing its regional transport network and enhancing mobility solutions for passengers.

FirstGroup PLC, a UK-based transport operator listed on the London Stock Exchange, delivers bus and rail services across the UK and Ireland, including regional bus networks and key rail franchises such as Aircoach, Avanti West Coast, Great Western Railway and RATP London. The acquisition of Matthews Coaches further supports its commitment to expanding high-quality transport services.

The Corporate Finance team at Azets Ireland was led by David Lucas and Conor O’Rourke. Legal advisory services to Matthews Coaches were provided by Philip Lee, with Eoghan Doyle, Keelin Gavagan, Patrick Egan, and Zoe Dunne leading the transaction. A&L Goodbody LLP acted as legal advisors to FirstGroup PLC.

Reflecting on the deal, Conor O’Rourke, Associate Director of Corporate Finance at Azets Ireland, said:

"It’s been a privilege to work with the Matthews family, whose years of hard work have made Matthews Coaches a standout operator. The acquisition by FirstGroup PLC is a well-deserved recognition of their commitment and customer service. This acquisition by FirstGroup is a perfect fit, ensuring the business continues to thrive under a respected industry leader. We couldn’t be more pleased for them as they enter this exciting next chapter."

Commenting on the acquisition, Graham Sutherland, FirstGroup Chief Executive Officer said:

"The acquisition of Matthews Coach Hire, an established, profitable business builds on our recent strategic acquisitions in First Bus. It will complement our existing operations and allow us to expand our presence in the non-airport commuter and B2B markets in Ireland and we look forward to taking the business forward."