Rotala PLC (AIM:ROL) agreed to acquire bus operations in Worcestershire from Firstgroup plc (LSE:FGP) for £1.5 million in cash on January 24, 2013. The two freehold depots reported approximately £5.2 million revenues and £0.27 million operating loss for the year ended June 30, 2012. Rotala will take Redditch and Kidderminster bus depots, around 36 vehicles and approximately 120 employees.

The acquisition is expected to generate a small amount of negative goodwill. Rotala will continue to run the services that First currently operate from these depots. The acquisition is not expected to have a material impact on earnings in the current financial year.

David Poutney, Stuart Skinner and Richard Thomas of Numis Securities Limited acted as financial advisor and broker for Rotala PLC.