Summary of transaction
McInnes Wilson Lawyers have advised Thompson Bus Services on the purchase of Coolum Coaches.
The transaction comprised 11 buses, 9 prescribed school service contracts with the Department of Transport and Main Roads, and a modern depot facility at Coolum Beach.
Aside from holding government contracts, the Coolum Coaches business also undertakes significant charter and touring activities, and is one of the oldest transport businesses on the Sunshine Coast.
Coolum Coaches was owned by stalwart operator, Glynn Ross, from February 1999 through to completion of the sale in February 2023.
The purchase of Coolum Coaches is a strategic acquisition for the Thompson family who now own a fleet of 100 buses across three depot locations and hold significant government contracts in South East Queensland.
The McInnes Wilson team comprised of Solicitor, Nick Wilson, and Principal, Tim Smith, advised the Thompson family in all aspects of the transaction including: conducting due diligence investigations on the business and real estate, facilitating the transfer of the government contracts, advising on tax and duty implications, and attending to successful completion of the purchase.
Shane Thompson, General Manager of Thompson Bus Services, said:
“When the opportunity to purchase this business came our way, we chose to use the McInnes Wilson team because of their expertise with government school bus contracts, which are the backbone of Coolum Coaches.
We were really pleased to have been expertly guided by Nick to navigate the process from the initial approach earlier this year through to completion.”
Commenting on the transaction, Nick Wilson, Solicitor at McInnes Wilson Lawyers, stated:
“At a time when a number of well-known identities are exiting the bus industry across the country, it is really pleasing to see a family owned business in Thompsons acquire another long standing operation.
I thank Shane Thompson for choosing McInnes Wilson to act for his family on the purchase of Coolum Coaches and congratulate them on this strategic acquisition.”
Nick is a Commercial and Property Lawyer with significant experience in Queensland’s bus industry.
He advises bus operators, industry associations, and associated suppliers, on a range of matters including passenger transport service contracts with government, formulating government tender responses, facilitating the sale and purchase of transport businesses, and commercial property transactions.
If you would require assistance with the sale or purchase of a transport business, please contact Nick Wilson on (07) 3014 6574 or email nwilson@mcw.com.au
Associate
Principal