1. FC Corporate Finance Limited is a UK-based advisory firm specialising in passenger
transport and corporate finance.
Iain Campbell has been the Senior
Partner in FC Corporate Finance (and
predecessor firms) for 18 years. Prior to
that he was a director in the UK’s fifth
largest passenger transport operator. Iain
has advised on numerous mergers,
acquisitions, privatisations and contract
and franchise bids in passenger transport
in the UK and overseas, including:
 Privatisation of Merseyside Transport Limited (one of the largest local authority-
owned bus companies outside of London).
 Privatisation of London Northern Bus Company (previously part of London
Transport). Iain was the director who developed and headed the implementation of
the plan that turned a loss of approximately STG £500k (US$ 750k) immediately
before privatisation to a profit of £3.8 million (US$ 5.5 million) in the first full year
under private ownership.
 Privatisation of Regional Railways North East and Merseyrail (both previously part of
British Rail). The RRNE franchise revenue was in excess of STG £1.2 billion (US$
1.4 billion).
 Acquisition of various smaller bus and coach companies including R&I Tours, London
Suburban Buses, Collins Coaches.
 Sale of Guide Friday Limited, the leading operator of open-top buses in the UK
outside of London, to City Sightseeing.
 Sale of the majority shareholding in ‘L’Open Tour’ open-top bus operation in Paris to
a consortium comprising the other shareholders and SNCF (the French state-owned
railway company).
 Acquisition of Gillmoss Bus Depot (120 buses) from Arriva on behalf of UK venture
capital fund Baring Private Equity and the management team to create Glenvale
Transport Limited.
 Acquisition by Glenvale of C&M Travel Limited (100 buses).
 Sale of Glenvale to Stagecoach Group PLC.

2.  Sale by ADFX Holding Limited of Malta of UK ‘open access’ passenger rail operator
Grand Central Railway Company to Sula Investments Limited of the British Virgin
Islands.
Iain has extensive knowledge and business experience internationally, including in Europe
and the Middle East. From 2010 until 2013, Iain acted as senior adviser to City Group Co
KSC, a large privately-owned bus operator based in Kuwait.
Iain is known and has extensive contacts at the very top of international companies active
in ground passenger transportation. He is also a student mentor on business planning,
venture capital, structured finance and mergers and acquisitions on the award-winning
Alliance Manchester Business School international MBA program.
Richard Woods is Senior Passenger
Transport Consultant at FC Corporate
Finance. He has over 30 years’
experience in the passenger transport
industry He started his career as a bus
driver and worked his way up to a number
of senior positions in the industry,
including:
 Group Chief Executive/ General Manager of City Group Co KSC, a Kuwait-based
company that was the largest private sector bus operator in the Middle East. When
Richard took charge of City Group, it was losing money. He left at the end of 2015
with annual profits running at around KWD 5.5 million (US$ 18 million) and one of
the highest profitability ratios of any bus company anywhere in the world.
 Head of Service Delivery at Stagecoach Group PLC, one of the UK’s largest bus
operators.
 Operations Director and shareholder in Glenvale Transport Limited, a venture-capital
backed regional bus operator in the UK.
 General Manager at Merseyside Transport Limited, then the UK’s fifth-largest bus
operator.