Kelsian Group Limited (ASX:KLS) has successfully completed the acquisition of 100% of All Aboard America! Holdings, Inc. (AAAHI) for an enterprise value of US$325 million (A$487 million)
AAAHI is a leading provider of passenger motorcoach services to corporate, government, education, Liquefied Natural Gas (LNG), and tourism sector customers in the USA.
“I am very pleased to announce the successful completion of the AAAHI acquisition. Since announcing the acquisition in March 2023, the business continues to perform very well and there is a strong pipeline of new business opportunities,” Kelsian’s Group Chief Executive Officer, Clint Feuerherdt, said.
“Since announcing the acquisition, I have continued to work closely with the management team and remain very confident about the future of both businesses working together. Like Kelsian, AAAHI is a customer-centric operator with an excellent reputation and track record of delivering high quality contract and charter services.
“Combined with our operational expertise and capabilities, this opportunity will form a solid foundation for growth in the large and attractive USA market.
“The Kelsian and AAAHI businesses are highly complementary; our operating portfolios span across multiple locations in the transport and tourism sectors; and we both share the same commitment to maintaining high safety standards for our employees and our customers,” he said.
Kelsian Group is Australia’s largest land and marine transport service provider and tourism operator, with established operations in London, Singapore and the Channel Islands.