PTSB Asset Finance and Collins Coaches have announced a significant asset finance arrangement which will support the Monaghan-based family-owned company’s investment in two new Scania coaches. This financing arrangement marks a significant step forward in Collins Coaches growth plans for 2025.
Collins Coaches, founded nearly 50 years ago, has built a reputation for delivering high-quality coach and bus services across Ireland. From airport transfers and corporate travel to commuter services and day tours. With this latest investment, Collins fleet continues to have an average vehicle age of just two years, ensuring an exceptional experience for passengers while utilising the latest technology for fuel efficiency and environmental sustainability. Collins Coaches currently employs 30 staff members and operates a fleet of over 20 luxury coaches.
Commenting on the deal, Fergal Mullen, PTSB Asset Finance Commercial Relationship Manager, said: “We are thrilled to support Collins Coaches latest investment in their fleet and play a role in their continued success. Through this financing arrangement, we’re helping them conserve capital, improve operational flexibility, and take on new opportunities for growth. Their commitment to prioritising customer experience and sustainability aligns perfectly with our values here in PTSB.”
The two new Scania coaches will support Collins Coaches’ extensive range of services, including their popular commuter route between Carrickmacross, Ardee, and Dublin, as well as private hire and day tours across Ireland. Having recently secured a number of new and significant touring contracts, Collins Coaches is well-positioned to capitalise on new opportunities in the year ahead.
Danny Collins, MD of Collins Coaches, added: “PTSB Asset Finance has been a trusted partner as we’ve continued to grow our business. Their team’s commitment to understanding our needs and providing customer-centric financing has been instrumental in our growth. 2024 was a busy and rewarding year for us. We secured a number of new contracts, grew our operations, won the Viator Experience Award and Public Sector Business Magazine Excellence Business Award for demonstrating outstanding service, continuity, track record and general excellence to the Public Sector, Irish Companies, and to the people of Ireland. These milestones are a credit to the hard work of our entire team. From being one of Irelands first coach operators to offer free Wi-Fi across its fleet in 2008 to expanding our offerings and customer reach, we’ve always been focused on ensuring we provide the best possible service to our customers.”
Despite challenging economic conditions in recent years, demand for both public and private coach services has remained steady, with growth in commuter routes, corporate travel, and tourism. Additionally, given the national school bus scheme is growing and general advocacy for the use of public transport is increasing, the sector is set to see continued growth in 2025.
Commenting on the broader industry, Danny Collins stated: “We’ve seen a shift in travel patterns post-pandemic. There’s increased demand for our commuter services, particularly on our Dublin route, and our tourism business is thriving. The new coaches will help us meet this growing demand while continuing to serve local communities across Monaghan and Ireland with award winning service.”
PTSB Asset Finance provides businesses with tailored financing solutions that support their growth ambitions while preserving capital, with year-on-year growth seen by the lending division. This latest transaction reinforces PTSB’s dedication to working closely with Irish businesses to deliver the right asset finance solutions, supporting them to scale and grow in the community.