deals
Coach firm puts accelerator on expansion plans
A series of multi-million pound acquisitions, a driven management team and a reputation for ultimate safety have helped Lucketts Group accelerate its expansion across the south in the space of just over a year
The Hampshire-based coach firm was a big winner at The Business Magazine’s Solent Deals Awards this summer, having just reported a turnover of £20.3 million.
The firm put the pedal to the metal on its growth ambitions at the end of December 2016, when Tony Lawman stepped into the role of managing director and announced big plans for the company.
“The Lucketts family had built an incredibly strong business in the south in recent years and, with the right team in place, it was absolutely the right time to set a course for further growth both in the south and further afield,” he said.
Lawman, whose background includes more than 20 years in the Army working in logistics and transport, set a goal for the company to become a £40m turnover business in five years.
His plan included growth through acquisitions as well as organic growth and already Lucketts has purchased two fellow coach companies in the space of six months.
First, Lucketts bought Solent Coaches, a 12-coach family-owned firm in Ringwood. Lawman said: “Solent Coaches fit into our plan perfectly. Just like us, it was a family- owned firm and its offering of coach hire, days out and school travel really reflected our core business.”
Within just a few months Lucketts was on the acquisition trail yet again, this time purchasing 35-coach firm Mortons Travel for an undisclosed sum. The move brought Lucketts’ total number of vehicles to around 175 and, strategically, widened its reach in the north of the county and beyond into Berkshire.
The fruits of Lucketts’ labour are already ripening. Just last month the firm reported a turnover of £20.3m and record-breaking pre-tax profits of £1.5m. The company has also been recognised with a string of new contract wins and awards, including the Management Team of the Year at The Solent Deals Awards.
Lawman said: “Our management team is highly driven and working closely together as a team to achieve our ambitious growth plans. I’m thrilled that has been recognised with the Management Team of the Year award.”
Finding innovative ways to become more efficient and provide an even better service to customers has also played an important part in Lucketts’ growth. Despite being 92-years- old, the company strongly embraces technology and is steaming ahead of many of its industry peers in this area.
Lawman continued: “For us, gathering data isn’t about navel-gazing. It’s about analysing that data and using it to inform and improve. It’s proven hugely effective, particularly in terms of financial KPI tracking. We’re able to see at any given moment our turnover per vehicle and gross margin percentage. Acting on this information has helped us improve our efficiency and, ultimately, profit.”
With a history approaching a century, Lucketts has built an enviable reputation for quality and its customer figures are growing across all aspects of the business.
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businessmag.co.uk THE BUSINESS MAGAZINE – JULY/AUGUST 2018
Lucketts win Management Team of the Year at the Solent Deals Awards 2018
The number of people holidaying or day tripping with the company is on the rise, as is the number of businesses using Lucketts for private hire.
The company counts a number of government and high-profile global businesses among the organisations it provides coach transport for. It’s also first choice for many schools and colleges across the region, who feel reassured with the high levels of safety Lucketts insists on.
The company is so particular about its exacting safety standards that it maintains all of its vehicles in-house. Its track record in vehicle safety is so strong it was the first coach firm in the UK to be a part of the DVSA’s Earned Recognition Scheme. It means its vehicles are less likely to be stopped and checked on the roads because it regularly provides the DVSA with evidence that its vehicles are safe.
To find out more about Lucketts Group, which incorporates Lucketts Travel, Coliseum Coaches, Solent Coaches, Worthing Coaches and Mortons Travel, visit the website:
lucketts.co.uk
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