History of arriva

The company was founded by TSK Cowie in Sunderland in 1938. It was initially active as a second-hand motorcycle dealer and traded under the name T. Cowie Limited.[3] During 1948, the business was re-launched by Tom Cowie, the founder's son, still selling motorcycles.[4] T Cowie plc was floated in December 1964, and in 1965 it bought out the first of many car dealerships.[5]

In 1972, it formed Cowie Contract Hire, which became the largest contract hire business in the UK.[4] During 1980, T. Cowie made its first foray into bus operations, buying the Grey-Green operation in London from the George Ewer Group.[3][6] In 1984, T. Cowie p.l.c. acquired the Hanger Group, which included Interleasing, a large vehicle leasing business.[4][7] Further leasing companies acquired were Marley Leasing,[8] RoyScot Drive[9] and Ringway Leasing.[6] Following the retirement of Tom Cowie, the company was renamed Cowie Group plc during April 1994.[10]

As part of the privatisation of London bus services, Cowie Group acquired the Leaside Buses and South London Transport business units in September 1994 and January 1995 respectively.[11] Cowie Group also bought United Automobile Services and British Bus in July and August 1996, both of which had acquired a number of privatised bus companies.[3][12] As a result of these transactions, in October 1996, Cowie Group was reclassified on the stock exchange from a motor dealer to a transport group.[13]

In November 1997, the company was rebranded as Arriva p.lc.[3] That same year, it also bought Unibus in Denmark, its first venture outside the United Kingdom.[3]

During June 1999, Arriva sold its vehicle-hire business to General Motors.[7][14] In February 2000, Arriva purchased MTL Holdings, which included its first UK rail franchises, Merseyrail Electrics and Northern Spirit.[3][15][16] Between 2002 and 2003, Arriva sold its motor-retailing businesses,[17] furthermore, in February 2006, it also disposed of its vehicle-rental business to Northgate.[18] During April 2008, the LNWR train maintenance business in England was acquired.[19]

In 2010, it was reported that the government-owned railway companies of France (SNCF) and Germany (Deutsche Bahn) were considering making takeover bids for the business.[20][21] SNCF subsidiary Keolis and Arriva entered discussions regarding a merger,[22] however, in April 2010, Deutsche Bahn made a takeover offer for Arriva valued at £7.75 per share (£1.585 billion).[23][24] During August 2010, Deutsche Bahn's takeover bid was approved by the European Commission, albeit conditional on the disposa; of some Arriva services in Germany.[25] The takeover took effect on 27 August 2010,[26][27] and Arriva was delisted from the London Stock Exchange on 31 August 2010.[28]

In late 2011, Arriva acquired Grand Central[29][30] and sold its Arriva Scotland West bus operation.[31][32] In May 2013, Arriva purchased Veolia Transport's Central European business with 3,400 vehicles.[33][34][35] Arriva changed its logo in January 2018.[36]

In March 2019, DB announced that it would be selling Arriva through either a sale or possible public flotation and invited companies interested in acquiring it to register expressions of interest by 3 May;[37] however, by mid-November, the sale had been reportedly placed on hold.[38] In early 2023, reports again alleged that parent company Deutsche Bahn was considering options for spinning out Arriva to concentrate on its core German rail operations.[39] During the following months, various portions of Arriva's operations on continental Europe have been sold to other companies, these disposals have largely focused on busin operations.[40][41] In October 2023, Deutsche Bahn agreed terms to sell Arriva to I Squared Capital.[42] The deal is expected to be completed in 2024.[43]