After London Transport - Stagecoach

In 1994, the growing Stagecoach group purchased two former London Buses Ltd (LBL) companies, East London and Selkent, and their 995 buses. The new fleet was quickly repainted all-over red and fleet renewal began in earnest, introducing new Volvo Olympians and then large numbers of low-floor Dennis Tridents and Dennis Dart SLFs. The veteran Routemasters, meanwhile, lasted until 2004. Its profit motive frustrated by the regulatory regime of Transport for London (TfL), however, Stagecoach sold its London operations in 2006 to Macquarie Bank. Unfortunately, the new owner struggled, and within four years its investment was almost worthless. Stagecoach then bought back East London and Selkent for a quarter of what it had paid for them and resumed operations as if it had never been away! In the decade since, Stagecoach has maintained its quarter of the TfL market and its fleet is now undergoing gradual electrification.