Kelsian subsidiary wins new State of Colorado contract — Capital Brief

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The news: Ferry and bus operator Kelsian Group has announced that its subsidiary ACE Express Coaches has been awarded a new one-year contract with the State of Colorado’s Department of Transportation.

The numbers: The contract is for operation of the statewide Bustang and Pegasus motorcoach transit networks from 1 November and represents up to US$26.5 million ($38.9 million) of revenue in the first year.

ACE Express will manage the operation and fleet maintenance of around 49 motorcoaches (Bustang) and 16 vans (Pegasus), staffed by approximately 125 employees.

The context: ACE Express — a wholly owned subsidiary of All Aboard America! Holdings (AAAHI), which is in turn a wholly owned subsidiary of Kelsian — was awarded the contract following a competitive tender.

ACE Express has operated this service since its inception in 2015 with vehicles owned and procured by the State of Colorado. The new one-year contract is under "substantially the same terms and rates" as currently provided, Kelsian said, with four one-year extension options and scope for ACE Express to more than "more than double" existing services.

What they said: "I am delighted that ACE Express has again been awarded this contract which ranks as a top 10 contract for AAAHI," said AAAHI CEO Graeme Legh.

"As a capital light contract with assets supplied by the State of Colorado, the focus is now on ensuring we are well positioned to capitalise on the expansion opportunities," he said.

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