FirstGroup (LSE:FGP) PLC has acquired the remaining 50% shareholding in its Somerset Passenger Solutions joint venture as part of its strategy to expand its B2B bus services.
SPS, which started in 2016 as a joint venture with 50/50 ownership Somerset-based JJPH, provides transport for workers employed at the Hinkley Point C nuclear power station near Bridgwater.
The business now employs around 450 people running a 156 vehicle-strong operation seven days a week to and from Hinkley Point C. Annual revenues are around £37mln.