GRT Group
Encyclopedia
GRT Group plc was a bus operating company in the United Kingdom
. Created in 1989 as a holding company to effect the buyout of Grampian Regional Transport (GRT), it grew by acquisition and in 1995 merged with Badgerline to create FirstBus plc, forerunner to worldwide transport company FirstGroup plc.
, Scotland
, by its employees. Motivation for the buyout was the 1988 announcement that the Scottish Bus Group
was to be privatised, sparking fears that GRT could be acquired by a larger group and asset stripped
. The buyout was achieved on 20 January 1989. General Manager Moir Lockhead
, together with four others in a management buyout team, took a 51% stake in the new company, with employees gaining 33%, and Aberdeen Asset Management
and 3i
taking the remaining 16%. At the time GRT comprised a fleet of 200 buses and 500 employees.
Subsequently, the parent company GRT Group was listed on the stock market
as GRT Group plc. The group grew by acquisition of some of the other newly privatised bus companies in the UK.
As GRT Bus Group plc:
Midland, Eastern and Lowland Scottish, and Eastern Counties, were regional companies, with operating territories stretching over large areas comprising town and interurban services. The Northampton and Leicester operations were town based networks, like Grampian.
With the emergence of Firstbus, the former GRT companies retained their coroporate livery, with the individual company logos replaced with the company name in a new standard corporate typeface, along with a styilised f symbol representing FirstBus.
had joined Grampian Transport as general manager in 1985. He remained with the GRT Group and as of 2008 was Chief Executive and Deputy Chairman of First Group. In 1996 he was made an OBE
for services to the bus industry, and in 2008 was knighted
.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. Created in 1989 as a holding company to effect the buyout of Grampian Regional Transport (GRT), it grew by acquisition and in 1995 merged with Badgerline to create FirstBus plc, forerunner to worldwide transport company FirstGroup plc.
History
The GRT Group, as GRT Holdings, was formed as a holding company to effect the purchase of Grampian Regional Transport (GRT), the city bus operator in AberdeenAberdeen
Aberdeen is Scotland's third most populous city, one of Scotland's 32 local government council areas and the United Kingdom's 25th most populous city, with an official population estimate of ....
, Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
, by its employees. Motivation for the buyout was the 1988 announcement that the Scottish Bus Group
Scottish Bus Group
The Scottish Bus Group was a state-owned Scottish holding company that included a number of bus operators covering the whole of Scotland. The group was formed in 1961 as Scottish Omnibuses Group Ltd, to take control of the British Transport Commission's bus operating subsidiaries in Scotland...
was to be privatised, sparking fears that GRT could be acquired by a larger group and asset stripped
Asset stripping
Asset stripping involves selling the assets of a business individually at a profit. The term is generally used in a pejorative sense as such activity is not considered productive to the economy. Asset stripping is considered to be a problem in economies such as Russia or China that are making a...
. The buyout was achieved on 20 January 1989. General Manager Moir Lockhead
Moir Lockhead
Sir Moir Lockhead OBE is an English businessman and has been Chief Executive and Deputy Chairman of UK transport group FirstGroup since its formation in 1995...
, together with four others in a management buyout team, took a 51% stake in the new company, with employees gaining 33%, and Aberdeen Asset Management
Aberdeen Asset Management
Aberdeen Asset Management plc is an international investment management group, managing assets for both institutions and private investors from offices around the world. Its head office is in Aberdeen, Scotland. The company is a constituent of the FTSE 250 Index.-History:The company was...
and 3i
3i
3i Group plc is a multinational private equity and venture capital company headquartered in London, United Kingdom. It has offices in 13 countries across Asia, Europe and the Americas and had total assets under management of £12.7 billion as at 31 March 2011...
taking the remaining 16%. At the time GRT comprised a fleet of 200 buses and 500 employees.
Subsequently, the parent company GRT Group was listed on the stock market
Public limited company
A public limited company is a limited liability company that sells shares to the public in United Kingdom company law, in the Republic of Ireland and Commonwealth jurisdictions....
as GRT Group plc. The group grew by acquisition of some of the other newly privatised bus companies in the UK.
Acquisitions
As GRT Holdings:- Midland ScottishMidland ScottishMidland Scottish Omnibuses Ltd, in Scotland, was a bus operating subsidiary of the Scottish Transport Group formed in June 1985 from Walter Alexander and Sons Ltd, and operated until 1991 when it became Midland Bluebird Ltd.- Operation :...
, September 1990 (ex SBGScottish Bus GroupThe Scottish Bus Group was a state-owned Scottish holding company that included a number of bus operators covering the whole of Scotland. The group was formed in 1961 as Scottish Omnibuses Group Ltd, to take control of the British Transport Commission's bus operating subsidiaries in Scotland...
) - Northampton Transport, October 1993 (ex former council company)
- Leicester CityBus, November 1993 (ex former council company)
As GRT Bus Group plc:
- Eastern Counties, July 1994 (ex NBC)
- Eastern ScottishEastern ScottishEastern Scottish, of Edinburgh, Scotland, was a bus and coach operator and a subsidiary of the Scottish Bus Group . Eastern Scottish Omnibuses Ltd. was formed in June 1985 from the main part of Scottish Omnibuses Ltd., which had itself traded as 'Eastern Scottish' since the 1960s...
, October 1994 (as SMT) (ex SBGScottish Bus GroupThe Scottish Bus Group was a state-owned Scottish holding company that included a number of bus operators covering the whole of Scotland. The group was formed in 1961 as Scottish Omnibuses Group Ltd, to take control of the British Transport Commission's bus operating subsidiaries in Scotland...
) - Lowland ScottishLowland ScottishLowland Scottish Omnibuses Ltd was a bus operator in south eastern Scotland and parts of northern England. The company was formed in 1985 and operated under the identities Lowland Scottish, Lowland and First Lowland / First SMT, until 1999 when the company's operations were combined with the...
, November 1994 (ex SBGScottish Bus GroupThe Scottish Bus Group was a state-owned Scottish holding company that included a number of bus operators covering the whole of Scotland. The group was formed in 1961 as Scottish Omnibuses Group Ltd, to take control of the British Transport Commission's bus operating subsidiaries in Scotland...
)
Midland, Eastern and Lowland Scottish, and Eastern Counties, were regional companies, with operating territories stretching over large areas comprising town and interurban services. The Northampton and Leicester operations were town based networks, like Grampian.
Firstbus
In June 1995, GRT group plc merged with Badgerline, another large UK bus group, to form FirstBus, launching a new corporate identity. In 1998 FirstBus became FirstGroup plc.Livery
As GRT Group, the company had developed a form of corporate livery dictated by an arrangement of a horizontal and diagonal bands over a base colour. The colour scheme of the bands were derived from colours representative of the subsidiary company, while the base colour was chosen as cream. The companies retained their own version of a company logo. Some companies developed an alternate livery with a gold band for the introduction of new buses.With the emergence of Firstbus, the former GRT companies retained their coroporate livery, with the individual company logos replaced with the company name in a new standard corporate typeface, along with a styilised f symbol representing FirstBus.
Moir Lockhead
Sir Moir LockheadMoir Lockhead
Sir Moir Lockhead OBE is an English businessman and has been Chief Executive and Deputy Chairman of UK transport group FirstGroup since its formation in 1995...
had joined Grampian Transport as general manager in 1985. He remained with the GRT Group and as of 2008 was Chief Executive and Deputy Chairman of First Group. In 1996 he was made an OBE
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
for services to the bus industry, and in 2008 was knighted
Knight Bachelor
The rank of Knight Bachelor is a part of the British honours system. It is the most basic rank of a man who has been knighted by the monarch but not as a member of one of the organised Orders of Chivalry...
.