South Wales-based Jumbocruiser has been acquired by Hobboard.
Founded in 1996, Newport-based Jumbocruiser is one of the UK's leading providers of luxury sleeper coach transport for touring artists, production crews and live events.
Robert Ezigbo, founder of Hobboard, is taking ownership and assuming responsibility for the day-to-day running of the company following the retirement of exiting founder Stephen Lee.
Stephen Lee, Founder of Jumbocruiser, said:
“I am extremely proud of the business we have built at Jumbocruiser. It was important that we planned a succession path that ensured the business' future after my retirement and provided continuity for the team and our clients. I would like to thank all of my staff who have helped the business become what it is today, and to our valued clients who I have enjoyed supporting throughout the years. Thanks also to the teams at GS Verde who helped from start to finish. I wish Robert every success for the future, and I am sure the business will continue to prosper for many years to come.”
Robert Ezigbo, Managing Director of Hobboard, said:
“I am delighted to have completed the transaction and congratulate Stephen for building a great business, and wish him well for the future. I am excited to take the business forward and this is very much a new chapter for Jumbo.”
Plans for the business include enhancements to branding, communications, operational systems and customer experience, alongside continued investment in the fleet, drivers and the wider team.
Mr Ezigbo added:
“My focus going forward is simple: building a modern, professional, inclusive, and genuinely welcoming company that people enjoy working with, both on and off the road, and that celebrates the diverse communities we travel to and from.”
The transaction was supported by GS Verde (an AAB Group Company), which advised Jumbocruiser throughout the sale process. Hobboard was supported by Millbrook Accountancy, Finance Simplified, Business Pathfinders & Hutton's Law.
