Fri, 10 Apr 2026 | BUSINESS SALE
Ilesbus . UK Limited, a coachbuilder based in Swansea, has been acquired out of administration by Yorkshire-based Minicoach World Limited. The deal saves a number of jobs and will honour previous orders made by customers.
Ilesbus UK sells vehicles, including minibuses and midibuses, manufactured by Turkish firm Ilesbus, as well as manufacturing vehicles at its site in Swansea. The company fell into administration last month, with administrators from BTG Begbies Traynor appointed following a winding up petition from HMRC.
In accounts for the year to May 31 2024, Ilesbus . UK Limited reported turnover of approximately £19.6 million, up from £12.9 million a year earlier. However, it fell from an operating profit of around £354,000 to a loss of approximately £1.5 million, following what directors said was “a very difficult year”.
At the time, its fixed assets were valued at around £1.4 million and current assets at £6.9 million, but net liabilities totalled nearly £306,000.
On April 7 2026, Minicoach World Limited, led by Andrew Garratt and Kevin Procter, also directors at coach dealer TSUK Limited, completed the acquisition of the business and a number of its assets. Assets acquired in the deal include its goodwill and order book, stock, work in progress and several vehicles.
As part of the deal, the new owners will honour orders made by customers who had paid deposits to the previous company in order to prevent further disruption and ensure orders are delivered as expected.
The buyer also has the option to acquire the leasehold for the business’ former site in Swansea. The remaining assets are set to be sold by Agency and Auction specialists from BTG Eddisons, the real estate advisory arm of BTG.
Minicoach World Limited will aim to promptly resume operations and production as they seek to limit disruption for customers and the wider supply chain.
Huw Powell, partner in Restructuring at BTG’s Cardiff office, said: "Working in close collaboration with Minicoach World, PME Consulting Services and Francis Wilks & Jones, we are grateful for the efforts and support of all the teams involved to have been able to facilitate the quick sale of Ilesbus . UK.”
“We are particularly glad that this has saved the jobs of the remaining five employees while providing the opportunity for production to recommence, and hope that this will benefit customers and the wider supply chain.”
Powell added that the joint administrators would continue to seek to realise remaining assets as they look to secure the best outcome for creditors.
Minicoach World Limited directors Andrew Garratt and Kevin Procter said: "The quick acquisition means we are well placed to start back on the front foot, ramping up the parts supply to bring the market quick, convenient access to spares. We are especially pleased to be able to honour the orders of those customers who have deposits with Ilesbus UK, who we will be contacting individually about their order in due course.”
"We will be working hard to revive and grow the business into the future and look forward to working on our plans for the business and product lines in the coming months."
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