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National Express buys into WeDriveU

26 April 2019
 

UK headquartered public transport operator National Express Group (NEG) has paid $84.3m for a 60 per cent stake in US employee shuttle firm WeDriveU Holdings Inc.

WeDriveU is based in California’s Silicon Valley and operates in other cities including Los Angeles, Seattle and Boston.

In 2018 the company generated revenue of $139.9m and a normalised operating profit of $15.4m. Normalised earnings before interest, taxation, depreciation, and amortisation were $21.1m. Gross assets are...

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