SeaLink Travel : Acquires Go West Tours

SeaLink Travel Group Limited (SeaLink) has successfully completed the acquisition of Go West Tours[1] for an enterprise value of A$84.7 million[2] plus an earn-out component of up to A$25 million. Three strategic properties were also purchased for an additional A$3.8 million.

SeaLink's Group Chief Executive Officer, Clint Feuerherdt, said the acquisition diversifies our portfolio and provides a platform for further growth into the attractive resources sector.

'We welcome all of Go West's employees to the Group and look forward to working together to continue delivering great services for Go West's clients.

'Our focus remains on designing, delivering and operating world-class, innovative and sustainable transport solutions,' he said.

Go West Tours is a specialist bussing passenger transport business operating in regional and remote Western Australia serving primarily the resources sector.

Established in 1986, and currently with eight depots across Western Australia, Go West Tours is Western Australia's leading supplier of modern charter, rental and tour vehicles, servicing the mining, education, tourism and government sectors, as well as private groups.

SeaLink Travel Group is Australia's largest integrated land and marine, tourism and public transport service provider with established international operations in London and Singapore.

It is one of Australia's most experienced and diverse multi-modal transport businesses, boasting performance-driven capabilities across ferry, bus and light rail.

SeaLink is made up of Australian marine and tourism operations and Transit Systems' domestic and international public bus and light rail transport operations.

SeaLink moves more than 206 million customers per year, has over 9,000 employees and operates approximately 3,700 buses and 120 ferries.

[1] SeaLink Travel Group Limited has acquired 100% of the shares in S.V.Haoust Pty Ltd (trading as Go West Tours) from Stanley V. Haoust and the trustees of the DS & NM Haoust Family Trust, David Haoust and Naomi Haoust. SeaLink has purchased the properties through its wholly owned subsidiary STG Properties Pty Ltd.

[2] Cash-free and debt-free basis, prior to completion adjustments and excludes any earn-out consideration.