There’s still gold in them hills! And that gold pays handsomely for East Coast Passenger Services, a business that holds an important contract, shuttling hundreds of mine workers to Macraes Gold Mine in Otago.
Macraes Mine, owned by OceanaGold, is New Zealand’s largest active gold-producing mine, having produced over 5 million ounces of gold since 1990.
The Macraes Mine operation contributes significantly to the local economy through employment, procurement, community investment and donations, with more than 600 people employed between the Macraes operation and Dunedin office.
Beginning in Waikouaiti in 1990, Frank Hilton started a bus business with one bus and an OceanaGold contract. The companies grew together and have developed a close partnership over the decades.
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With a gradual expansion in staff and capital, each organisation’s success has improved the other’s.
ABC Business Sales Otago and Southland broker Ricky Cockerill says, "Getting the hundreds of mine employees safely to and from their shift is what East Coast Passenger Services has undertaken proficiently for over 30 years.
"This track record has led to them securing the lucrative contract with OceanaGold again late last year for the next three-plus years."
Frank's son Mike Chittock took over management of East Coast Passenger Services 15 years ago. Under his direction, the business has grown to cover Oamaru, East Otago and Dunedin, running buses 365 days a year. The business moved to central Dunedin around 2005 so it could service the mine more comprehensively.
Upholding a high level of service and reliability is important, and East Coast Passenger Services has a dedicated and loyal team of 20 full-time employees which includes 16 drivers.
Chittock covers client relationships, staff management and overall strategic direction. There are two other key members of the managerial team, an operations manager who has been with the business for 22 years and an administration manager who has been there for a decade.
Both managers ensure the business runs like clockwork, and have built up excellent client rapport, policy understanding and day-to-day management.
ABC Business Sales Auckland broker Steve Smith says this business is an excellent opportunity for a new owner to secure revenue of over $205,000 a month, a fleet of late-model buses, excellent staff and a key client that works in close partnership. Both organisations rely rely on, and help to grow, each other's business.
The business has been exceptionally rewarding for Chittock, but with retirement looming he is ready to hand over to a new owner.
Contact: Ricky Cockerill, ph 027 418 1889, email [email protected]
Steve Smith, ph 029 838 2671, email [email protected]
- Article supplied by ABC Business Sales
