Former Arriva CEO joins Scots firm
Easdale hints at IPO for bus firm McGill’s
New director brings flotations experience to business
Bus company McGill’s has hinted at a capital raising, possibly a flotation, after hiring David Martin, recently retired chief executive of Arriva as a non-executive director.
McGill’s is the largest independent bus company in Scotland and Mr Martin joins the firm as it plans to accelerate its growth.
Chairman James Easdale said: “McGill’s is entering a new phase with this appointment. David will be invaluable when it comes to new acquisitions, both here in the UK and abroad. His experience of managing flotations will also prove to be invaluable.”
Mr Martin (right) is credited with building Arriva to its current turnover of £3.3 billion.
He said: “The Easdale brothers have built a fantastic transport company and it has enormous potential for further expansion.
Ralph Roberts, Managing Director of McGill’s, said: “David Martin is one of the leading figures in the transport industry and he oversaw the international development of Arriva across Europe and facilitated its acquisition by Deutsche Bahn in 2010.
“We are thrilled to have him as a non-executive director. He brings with him decades of experience and a vast expertise that will help us as we continue to expand.”
“This is a dynamic time for the transport sector and McGill’s is at the forefront of adopting new technology, including the Scotland-wide smart payment scheme and the greater Glasgow bus to bus multi operator smart ticket scheme.
“We have replaced traditional ticketing machines with smart and mobile ticketing machines. Before the end of the summer we will have contactless technology across the whole business.”
In its most recent financial results McGill’s, which is based in Inverclyde, reported a rise in turnover to £40m, accompanied by a rise 12.5% in pre-tax profits. The number of employees retained by the firm has increased by 47% in the past five years.
David Martin continues to advise the boards of Arriva and DB Group since he stepped down from the CEO role at Arriva in December 2016.
McGill’s Bus Service is owned by Arranglen, the investment vehicle of the Easdale family. Arranglen and its subsidiary companies is now a substantial conglomerate with a turnover of close to £100m, owned by Sandy and James Easdale.
Its interests include manufacturing of windows and glass, high grade office properties, land investments, the Saveheat Group and vehicle fleet lease and repair companies.