Family bus business changes hands
Clarendon Lawyers has advised the shareholders of the Sita Group on the sale of the company to Transit Systems Pty Ltd.
Firm: Clarendon Lawyers (Sita Group), Talbot Sayer (Transit Systems Pty Ltd)
Deal: Clarendon Lawyers has advised the Sita Group’s shareholders on the sale of Sita Buslines Pty Ltd and Sita Coaches Pty Ltd to Transit Systems Pty Ltd.
Area: Transport, M&A
Key players: Clarendon Lawyers’ team was led by managing director Tony Symons and senior associate David Bryant. Assistance was provided by lawyer Stephen Dayson and graduate Jordy Finch.
Deal significance: The Sita Group was founded in 1959 and has operated as a family run business over the last 50 years, a statement said.
The Sita Group consists of Sita Buslines Pty Ltd and Sita Coaches Pty Ltd, and provides transport services across 18 bus routes throughout Melbourne’s CBD and Western suburbs, Clarendon Lawyers noted.
Transit Systems provides public transport services across a number of major Australian cities, with the acquisition of the Sita Group marking its first entry into the Victorian market, the firm said.
Congratulating the Sita family on the sale, Clarendons Lawyers managing partner Tony Symons said the firm was “delighted to have been able to assist the Sita family, who have been longstanding clients of the firm, on the successful sale of their business”.
“This transaction is a great result for the family and a testament to their hard work over many years in building such an outstanding business,” he continued.