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102-508: Yellow Buses was a bus operator based in Bournemouth , on the south coast of England. Yellow Buses was the trading name for Bournemouth Transport Ltd. The company fell into administration in July 2022 and ceased operations on 4 August 2022. Yellow Buses traces its origins to July 1902, when Bournemouth Corporation began operating trams. Bus services commenced in 1906 to act as feeders to

204-405: A bank , provided the bank was willing to accept the risk . Management buyouts are frequently seen as too risky for a bank to finance the purchase through a loan. Management teams are typically asked to invest an amount of capital that is significant to them personally, depending on the funding source/banks determination of the personal wealth of the management team. The bank then loans the company

306-553: A 202-foot (62 m) spire and is one of three Grade I listed churches in the borough. The town also has both an events venue and a concert hall, the Bournemouth International Centre (BIC) and Pavilion Theatre respectively. The first mention of Bournemouth comes in the Christchurch cartulary of 1406, where a monk describes how a large fish ("uni magno piscis"), 18 feet (5.5 metres) long,

408-481: A 36-hectare (89-acre; 0.14 sq mi; 0.36 km ) site, much of which is designated a Site of Special Scientific Interest . This heathland habitat is home to all six species of native reptile, the Dartford warbler and some important flora such as sundew and bog asphodel . Small populations of Exmoor pony and Shetland cattle help to maintain the area. Bournemouth is directly north of Old Harry Rocks ,

510-511: A bank and will be left in control of the company once the consideration has been paid. A classic example of an MBO involved Springfield Remanufacturing Corporation , a former plant in Springfield, Missouri , owned by Navistar (at that time, International Harvester ) which was in danger of being closed or sold to outside parties until its managers purchased the company. In the UK, New Look

612-649: A financial sector that is worth more than £1 billion in gross value added . Part of Hampshire since before the Domesday Book , it was assigned to Dorset under the Local Government Act 1972 in 1974. Bournemouth Borough Council became a unitary authority in 1997 and was replaced by Bournemouth, Christchurch and Poole Council in 2019; the current unitary authority also covers Poole , Christchurch and adjoining land. The town centre has notable Victorian architecture . St Peter's Church has

714-441: A holding company for the purpose of purchasing the shares of the target company. Management buyouts are conducted by management teams as they want to get the financial reward for the future development of the company more directly than they would do as employees only. A management buyout can also be attractive for the seller as they can be assured that the future stand-alone company will have a dedicated management team thus providing

816-500: A large selection of bars, clubs, and cafés. North of the centre there is an out-of-town shopping complex called Castlepoint. The 41-acre (17 ha) site has 40 units and was the largest shopping centre in the UK when it opened it 2003. Other major shopping areas are situated in the districts of Westbourne and Boscombe. Bournemouth is a tourist and regional centre for leisure, entertainment, culture and recreation. Local author and former mayor, Keith Rawlings, suggests that Bournemouth has

918-579: A management buyout in September 2009, when Sanity 's owner and founder, Brett Blundy , sold BB Retail Capital 's Entertainment Division (including Sanity, and the Australian franchises of Virgin Entertainment and HMV ) to the company's Head of Entertainment, Ray Itaoui. This was for an undisclosed sum, leaving Sanity Entertainment to become a private company in its own right. Hitman

1020-459: A massive growth in seaside and summer visitors to the town, especially from the Midlands and London. In 1880 the town had a population of 17,000, but by 1900, when railway connections to Bournemouth were at their most developed, the town's population had risen to 60,000 and it had become a favourite location for visiting artists and writers. The town was improved greatly during this period through

1122-523: A narrow peninsula that forms the southern shore of Christchurch Harbour . It is a local nature reserve and the site of a Bronze Age settlement. Like all of the UK, Bournemouth has a temperate oceanic climate with moderate variation in annual and daily temperatures, mild summers, and cool winters. From 1991 to 2020 the annual mean temperature was 10 to 11 °C (50 to 52 °F). The warmest months are July and August, which have an average temperature range of 12 to 22 °C (54 to 72 °F), while

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1224-404: A place for recuperation. At a time when the most convenient way to arrive in the town was by sea, a pier was considered to be a necessity. The Holdenhurst parish vestry was reluctant to find the money, and an attempt to raise funds privately in 1847 had only succeeded in financing a small 100-foot (30 m) jetty. The Bournemouth Improvement Act of 1856 granted greater financial autonomy to

1326-477: A proportion of the shares in the company, though they may also grant a loan to the management. The exact financial structuring will depend on the backer's desire to balance the risk with its return, with debt being less risky but less profitable than capital investment. Although the management may not have resources to buy the company, private equity houses will require that the managers each make as large an investment as they can afford in order to ensure that

1428-445: A result which accounts for 15% of all employment in the town. Bournemouth seafront is one of the UK's biggest attractions with 4.5 million visitors in 2011. RNLI lifeguards provide seasonal coverage of Bournemouth's beaches. With a third of all town centre businesses in the leisure industry, Bournemouth has a booming nightlife economy and is a popular destination for stag and hen parties. These party-goers contribute £125 million

1530-519: A small stream, is a derivative of burna , old English for a brook. From the latter half of the 16th century "Bourne Mouth" seems to be preferred, being recorded as such in surveys and reports of the period, but this appears to have been shortened to "Bourne" after the area had started to develop. A travel guide published in 1831 calls the place "Bourne Cliffe" or "Tregonwell's Bourne" after its founder. The Spas of England , published ten years later, calls it simply "Bourne" as does an 1838 edition of

1632-455: A substantial downside protection against failure and hence negative press. Additionally, in the case the management buyout is supported by a private equity fund (see below), the private equity will, given that there is a dedicated management team in place, likely pay an attractive price for the asset. The management of a company will not usually have the money available to buy the company outright themselves. They would first seek to borrow from

1734-411: A substantial increase in people moving into the area, has led to a sharp rise in the resident population since 2001. Of the total population, 3.3% are 85 or over, compared to 2.2% nationally; however the largest group of people moving into the area are students in the 16-24-year age group, and 9% of the current population are between 20 and 24. In England this age group accounts for only 7%. According to

1836-527: A thriving youth culture due to its large university population and many language school students. In recent years, Bournemouth has become a popular nightlife destination with UK visitors and many clubs, bars and restaurants are located within the town centre. In a 2007 survey by First Direct , Bournemouth was found to be the happiest place in the UK, with 82% of people questioned saying they were happy with their lives. Major venues for concerts include BIC , Pavilion Theatre and O2 Academy . Built in 1984,

1938-438: A tremendous team effort and I think our 15 million passengers will notice a positive difference in our services from April 8." The company continued to post losses at Companies House, however, generating pre-tax losses of £1,818,000 in the year ending 30 December 2017 and further losses of £1,975,000 in the year to 31 December 2018. On 2 July 2019, following a review of its operations, RATP Group sold Bournemouth Transport Limited to

2040-575: A venue for the municipal orchestra. It continues to provide traditional entertainment today, presenting West End stage shows, ballet and operas. The Palace Court Theatre opened in 1931, was later used as a Christian centre, and has recently been bought and reopened as a theatre by Arts University Bournemouth. Bournemouth has more than 200 listed buildings, mainly from the Victorian and Edwardian eras, including three grade I churches; St Peter's , St Clement's and St Stephen's. The Russell-Cotes Museum

2142-513: A year to the economy and support 4,000 jobs. In 2010 the town was awarded a Purple Flag for providing a wide variety of night-time activities while maintaining the safety of both residents and visitors. An independent report published in 2012 indicates there has been a rise in antisocial behaviour which it attributes to the increase in nightlife. Those of working age make up approximately 65% of Bournemouth's population and of these, 74.6% are economically active although not necessarily employed within

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2244-506: Is a Grade II* listed , villa completed in 1901. It houses artefacts and paintings collected by the Victorian philanthropist Merton Russell-Cotes and his wife during their extensive travels around the world. The four art galleries display paintings by William Powell Frith , Edwin Landseer , Edwin Long , William Orchardson , Arthur Hughes , Albert Moore and Dante Gabriel Rossetti . It

2346-411: Is also dependent, if an earn-out is used, on the returned profits being increased significantly following the acquisition, in order for the deal to represent a gain to the seller in comparison to the situation pre-sale. This will usually only happen in very particular circumstances. The optimum structure would be to convert the earn-out to contracted deferred consideration which has compelling benefits for

2448-610: Is based at the Civic Centre (formerly known as Bournemouth Town Hall) on Bourne Avenue in Bournemouth. The area that is now Bournemouth was historically mostly within the ancient parish of Christchurch in Hampshire. A chapel of ease was established at Holdenhurst to serve the west of the parish, and the chapelry of Holdenhurst subsequently came to be treated as a separate civil parish from medieval times. When

2550-399: Is both a retail and commercial centre. Areas within Bournemouth include: Boscombe , Kinson , Southbourne , Springbourne , Throop , Westbourne , Winton and Pokesdown . The area's geology has little variety, comprising almost entirely of Eocene clays which, prior to urbanisation, supported a heathland environment. Patches of the original heath still remain, notably Turbary Common,

2652-470: Is held by 13.9% of residents. An apprenticeship has been completed by 6.3% of the population while 16.9% have some other work-related or vocational qualification and 8.3% hold a foreign qualification. Historically Bournemouth has suffered from negative rates of natural increase and has relied on immigration to maintain population growth. In 2007 however, births exceeded deaths for the first time, and this trend has continued through to 2011. This, coupled with

2754-472: Is one of the few buildings designed by Ferrey still standing and operating. Bournemouth grew at a faster rate as Tapps-Gervis began developing the area similarly to the south coast resorts of Weymouth and Brighton . Despite enormous investment, the town's share of the market remained modest. In 1841 Tapps-Gervis invited the physician and writer Augustus Granville to stay. Granville was the author of The Spas of England , which described health resorts around

2856-408: Is predominantly based in neighbouring Poole, but still employed 2% of the workforce in 2010 and 2.6% in 2011. Notable employers in this sector include Escor Toys and Parvalux . Tourism is also important to the local economy. In 2011, domestic and overseas visitors made more than 5.6 million trips to the town and spent over £460 million between them. The equivalent of 8,531 full-time jobs exist as

2958-591: The Earl of Southampton noted that the area was "Devoid of all habitation", and as late as 1795 the Duke of Rutland recorded that "... on this barren and uncultivated heath there was not a human to direct us". There were some prehistoric settlements in the area, notably along the River Stour, including Longham where a skull thought to be 5,500 years old was found in 1932. Bronze Age burials near Moordown , and

3060-621: The Hampshire Advertiser . In the late 19th century "Bournemouth" became predominant, although its two-word form appears to have remained in use up until at least the early 20th century, turning up on a 1909 ordnance map. The Coat of arms of Bournemouth was first granted on 24 March 1891. In the 12th century the region around the mouth of the River Bourne was part of the Hundred of Holdenhurst . The hundred later became

3162-576: The Liberty of Westover when it was extended to include the settlements of North Ashley, Muscliff , Muccleshell, Throop , Iford , Pokesdown , Tuckton and Wick , and incorporated into the Manor of Christchurch . Although the Dorset and Hampshire region surrounding it had been the site of human settlement for thousands of years, Westover was largely a remote and barren heathland before 1800. In 1574

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3264-477: The Napoleonic Wars , spent much of his time searching the heath and coastline for French invaders and smugglers. Anticipating that people would come to the area to indulge in the newly fashionable pastime of sea-bathing , an activity with perceived health benefits, Tregonwell built a series of villas on his land between 1816 and 1822, which he hoped to let out. The common belief that pine-scented air

3366-636: The Platinum Jubilee Civic Honours in 2022 but was unsuccessful. On 13 March 2022, 21-year-old Thomas Roberts was stabbed to death in Bournemouth Town Centre by Lawangeen Abdulrahimzai in a high-profile murder case. On 31 May 2023, two people died and eight others were injured in an incident at Bournemouth beach . There is one tier of local government covering Bournemouth, at unitary authority level: Bournemouth, Christchurch and Poole Council , which

3468-479: The South East Dorset conurbation should be in the same county. Bournemouth's borough status was transferred to the new district, allowing the council to take the name Bournemouth Borough Council and giving the chair of the council the title of mayor, continuing Bournemouth's series of mayors dating back to 1890. On 1 April 1997, Bournemouth Borough Council became a unitary authority , taking over

3570-524: The asymmetric information possessed by management may offer them unfair advantage relative to current owners. The impending possibility of an MBO may lead to principal–agent problems , moral hazard , and perhaps even the subtle downward manipulation of the stock price prior to sale via adverse information disclosure, including accelerated and aggressive loss recognition, public launching of questionable projects, and adverse earning surprises. These issues make recovery by shareholders who bring suit challenging

3672-429: The due diligence process is likely to be limited as the buyers already have full knowledge of the company available to them. The seller is also unlikely to give any but the most basic warranties to the management, on the basis that the management know more about the company than the sellers do and therefore the sellers should not have to warrant the state of the company. Some concerns about management buyouts are that

3774-542: The BCP councillors representing wards in the former borough of Bournemouth. The trustees preserve the town's civic charters and traditions, including appointing one of their number each year to serve as mayor. Bournemouth is represented by two parliamentary constituencies in the House of Commons; Bournemouth East and Bournemouth West . In the 2024 general election , the former was gained for Labour by Tom Hayes with 40.8% of

3876-589: The BIC is also a popular place for party political conferences and has been used by all three major political parties. Its four auditoria make it the largest venue on the south coast. The O2 and Pavilion are older and are both Grade II listed buildings . The O2, which opened in 1895 as the Grand Pavilion Theatre, was initially used as a circus and later for music hall theatre. The Pavilion opened in 1929 as concert hall and tea room while also providing

3978-904: The Bournemouth area. Industry in Bournemouth employed more than 76,400 people in 2011 but not all of these were Bournemouth residents. Of those employed in Bournemouth based industries, 29.32% were employed in the public administration, education and health sector. This compares favourably with Dorset, the South-West region, and the country as a whole, as do the other large sectors; distribution, hotels & restaurants (29.06%), and banking, finance and insurance (24.48%). 37.2% of Bournemouth's resident population are employed full-time while 13.3% are employed part-time. An additional 7.1% full-time workers are self-employed, 3.1% are self-employed part-time. Full-time students with jobs account for 5.3% and 3.8% are unemployed. The shopping streets are mostly pedestrianised with modern shopping malls, Victorian arcades and

4080-556: The Centre for Cities in 2016, Bournemouth's population had the third highest average age among 63 large towns and cities in the UK, at 42.8 years. Similarly to the rest of Dorset, Bournemouth's economy is primarily in the service sector , which employed 95% of the workforce in 2010. This was 10% higher than the average employment in the service sector for Great Britain and 11% higher than the South West . Of particular importance are

4182-585: The MBO more likely than challenges to other kinds of mergers and acquisitions . Naturally, these corporate governance concerns also exist whenever current senior management is able to benefit personally from the sale of their company or its assets. This would include, for example, large parting bonuses for CEOs after a takeover or management buyout. Since corporate valuation is often subject to considerable uncertainty and ambiguity, and since it can be heavily influenced by asymmetric or inside information, some question

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4284-411: The River Stour, Stour Valley Way , Millhams Mead and Stour Valley nature reserves and arboretum, Hengistbury Head , and the small communities of Throop and Holdenhurst. Turbary Park is a heathland which is a protected Site of Special Scientific Interest . The 2011 census records the population of Bournemouth as 183,491, comprising 91,386 males and 92,105 females, which equates to 49.8% and 50.2% of

4386-677: The UK arm of Virgin Megastores was to be sold off as part of a management buyout, and from November 2007, will be known by a new name, Zavvi . On September 24, 2008, another part of the Virgin group, Virgin Comics underwent a management buyout and changed its name to Liquid Comics . In the UK, Virgin Radio also underwent a similar process and became Absolute Radio . In Australia, another group of music and entertainment stores were subject to

4488-467: The Yellow Coaches subdivision. As of 2021, the company operated 131 buses and coaches. Bournemouth Bournemouth ( / ˈ b ɔːr n m ə θ / BORN -məth ) is a coastal resort town in the Bournemouth, Christchurch and Poole unitary authority area, in the ceremonial county of Dorset , England. The 2021 census built-up area had a population of 196,455, making it

4590-524: The area has otherwise been provided from Poole Lifeboat Station . The Bournemouth International Centre (BIC), a large conference and exhibition centre, was constructed near the seafront in 1984, and in the following year Bournemouth became the first town in the United Kingdom to introduce and use CCTV cameras for public street-based surveillance. In 1993, the IRA orchestrated a terrorist attack in

4692-647: The area. Two years after difficulties in attempting to recover from the COVID-19 pandemic, the company fell into administration in July 2022, citing loss in revenue and an increase in running costs for the business. Yellow Buses ceased operations on 4 August 2022 with bus services operated by the company cancelled, with some of its key routes taken over by morebus . Yellow Coaches was purchased by Xelabus of Eastleigh on 5 August, though its operations ceased in February 2023 with their tender for its services expiring

4794-577: The beach, later to become known as the Invalids' Walk. After the death of Tapps in 1835, his son Sir George William Tapps-Gervis inherited his father's estate. He hired the young local architect Benjamin Ferrey to develop Bournemouth Gardens along the coastal area on the east side of the stream. Bournemouth's first hotel, later to become part of the Royal Bath Hotel , opened in 1838 and

4896-464: The borough council bought the former Mont Dore Hotel on Bourne Avenue, which had been completed in 1885, and converted into the Town Hall. The county borough of Bournemouth was reconstituted as a non-metropolitan district in 1974 under the Local Government Act 1972 . The district kept the same boundaries, but was transferred from Hampshire to Dorset, it being considered desirable that the whole of

4998-401: The company for long-term gains. Though the two aims are not always incompatible, the management may feel restricted. The European buyout market was worth €43.9bn in 2008, a 60% fall on the €108.2bn of deals in 2007. The last time the buyout market was at this level was in 2001 when it reached just €34bn. In certain circumstances, it may be possible for the management and the original owner of

5100-408: The company to agree a deal whereby the seller finances the buyout. The price paid at the time of sale will be nominal, with the real price being paid over the following years out of the profits of the company. The timescale for the payment is typically 3–7 years. This represents a disadvantage for the selling party, which must wait to receive its money after it has lost control of the company. It

5202-475: The construction of Bournemouth Gardens alongside the Bourne stream , an idea first mooted by Granville. The fields south of the road crossing (later Bournemouth Square ) were drained and laid out with shrubberies and walks. Many of these paths, including the Invalids' Walk, remain in the town today. A second suggestion of Granville's, a sanatorium, was completed in 1855 and greatly raised Bournemouth's profile as

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5304-707: The coolest months are January and February, which have an average temperature range of 2 to 9 °C (36 to 48 °F). Average rainfall in Bournemouth is around 34.4 inches (875 mm) annually, well below the national average of 45.8 inches (1,163 mm). It records both higher and lower temperatures than would be expected for its coastal location. Since 1960, temperature extremes as measured at Bournemouth Hurn Airport have ranged from 34.1 °C (93.4 °F) in August 1990, down to −13.4 °C (7.9 °F) in January 1963. The lowest temperature recorded in recent years

5406-419: The country, and as a result of his visit, he included a chapter on Bournemouth in the second edition of his book. The publication of the book, and the increase in visitors seeking the medicinal use of seawater and the pine-scented air, helped the town to grow and establish itself as an early tourist destination. In the 1840s Benjamin Ferrey was replaced by Decimus Burton , whose plans for Bournemouth included

5508-401: The development of Bournemouth began in 1810, the site straddled the parishes of Holdenhurst and Christchurch. An ecclesiastical parish of Bournemouth was created in 1845, but for civil purposes the town continued to straddle the parishes of Holdenhurst and Christchurch. A body of improvement commissioners was established in 1856 to provide local government services in the town. Bournemouth

5610-480: The discovery of Iron Age pottery on the East Cliff in 1969, suggest there may have been settlements there during that period. Hengistbury Head , added to the borough in 1932, was the site of a much older Palaeolithic encampment. During the latter half of the 16th century James Blount, 6th Baron Mountjoy , began mining for alum in the area, and at one time part of the heath was used for hunting, although by

5712-477: The easternmost end of the Jurassic Coast , 96 miles (155 km) of coastline designated a World Heritage Site in 2001. Bournemouth's own coastline stretches from Sandbanks to Christchurch Harbour and comprises mainly sandy beaches backed by gravel and sandy clay cliffs. These cliffs are cut by a number of chines which provide natural access to the shore. At the easternmost point lies Hengistbury Head,

5814-413: The efforts of Sir Merton Russell-Cotes , the town's mayor and a local philanthropist, who helped to establish the town's first library and museum. The Russell-Cotes Art Gallery & Museum was housed in his mansion, and after his death, it was given to the town. Bournemouth became a municipal borough in 1890 and a county borough in 1900. As Bournemouth's growth increased in the early 20th century,

5916-458: The financial and public service sectors which through 2011 continued to show sustained growth. Compared to the rest of the country, Bournemouth performed well in these two areas but under performed in transport and communications. The smallest geographical region for which gross value added information is available is the NUTS3 area, Bournemouth and Poole. The latest figures, as of 2012 , are for

6018-496: The front were removed and melted down for munitions, as was much of the superstructure from both Bournemouth and Boscombe piers before they were breached to prevent their use by enemy ships. The large amounts of barbed wire and anti-tank obstacles along the beach, and the mines at the foot of the chines , took two years to remove when peace was finally achieved. The Royal National Lifeboat Institution stationed an inshore lifeboat at Bournemouth between 1965 and 1972. Coverage for

6120-461: The hands of five private owners, including James Harris, 1st Earl of Malmesbury , and Sir George Ivison Tapps . In 1809 the Tapps Arms public house was built on the heath. A few years later, in 1812, the first official residents, retired army officer Lewis Tregonwell and his wife, moved into their new home built on land purchased from Tapps. The area was well known to Tregonwell who, during

6222-524: The identity of outlying communities, and preserve nearby countryside. This is achieved by restricting inappropriate development within the designated areas, and imposing stricter conditions on permitted building. Bournemouth has small areas of green belt within its district to the north and east, mostly along the fringes of the shared border with the Christchurch and East Dorset districts. These cover landscape features and greenfield facilities including

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6324-540: The largest town in Dorset. Previously an uninhabited and rarely-visited heathland , other than by occasional fishermen and smugglers, a health resort was founded in the area by Lewis Tregonwell in 1810. After the Ringwood, Christchurch and Bournemouth Railway opened in 1870, it grew into an important resort town which attracts over five million visitors annually with the town's beaches and popular nightlife. It now has

6426-721: The late 18th century little evidence of either event remained. No-one lived at the mouth of the Bourne river and the only regular visitors to the area before the 19th century were a few fishermen, turf cutters and gangs of smugglers . Prior to the Christchurch Inclosures Act 1802 , more than 70% of the Westover area was common land . The act, together with the Inclosure Commissioners' Award of 1805, transferred 5,000 acres (2,000 ha) into

6528-601: The launch of the hourly route 29 between Bournemouth, Winton , Ferndown and West Moors . In 2009 Transdev's majority owner, Caisse des dépôts et consignations , commenced negotiating with Veolia Environnement to merge Transdev with Veolia Transport . As part of the resulting agreement, it was agreed that the RATP Group , which had a minority shareholding in Transdev, would take over ownership of some of Transdev's operations in lieu of cash payment. Transdev Yellow Buses

6630-410: The life and work patterns of passengers". The 1a, 1b and 1c services between Poole and Christchurch were replaced with new 'P' services ('P' standing for 'Priory', denoting Christchurch Priory) and ceased to run along Christchurch Road, taking a more lengthy route via Holdenhurst Road. Other lettered services included 'B' for 'Bourne', 'U' for 'University', and 'V' for 'Kinson Village'. The new routes, and

6732-427: The management are locked in by an overwhelming vested interest in the success of the company. It is common for the management to re-mortgage their houses in order to acquire a small percentage of the company. Private equity backers are likely to have somewhat different goals to the management. They generally aim to maximise their return and make an exit after 3–5 years while minimising risk to themselves, whereas

6834-408: The management rarely look beyond their careers at the company and will take a long-term view. While certain aims do coincide—in particular the primary aim of profitability —certain tensions can arise. The backers will invariably impose the same warranties on the management in relation to the company that the sellers will have refused to give the management. This "warranty gap" means that

6936-430: The management will bear all the risk of any defects in the company that affect its value. As a condition of their investment, the backers will also impose numerous terms on the management concerning the way that the company is run. The purpose is to ensure that the management run the company in a way that will maximise the returns during the term of the backers' investment, whereas the management might have hoped to build

7038-613: The population respectively. The mean average age of all persons is 40 years. With 4,000 residents per square kilometre, Bournemouth has the highest population density of any authority in the South-West region, and is the eighth most populated. Much of the population, 83.8%, describe their ethnicity as ' White British ' while other white groups account for a further 8.1%. Asian groups; Indian, Pakistani, Bangladeshi, Chinese and other Asian, make up 3.9%. Black British , Black African, Black Caribbean and other Black groups form 1.0% of

7140-423: The population while 15.2% have a level 2 NVQ, a City and Guilds craft certificate, BTEC or general diploma. Just over 20% of residents had two or more A-levels, four or more AS-Levels or an advanced diploma while 15.8% possessed a degree, such as a BA or BSc or a higher degree such as an MA or PhD. An NVQ level 4 or 5, HNC , HND , higher BTEC or higher diploma , is held by 4.2% and a professional qualification

7242-720: The population, Those who are Mixed race make up 2.3% of the population, and 0.9% are from other ethnic groups. Christians made up 57.1% of the population but 30% of residents said they had no religion and 7.8% declined to say whether they were religious or not. Muslims were 1.8%, Buddhists, Hindus and Jews each had a 0.7% share, Sikhs were 0.1%. and other religions made up 0.7%. Of all Bournemouth residents aged 16 or over, 19.1% had no qualifications at all, although 35% said they had between one and four O-levels , CSEs , GCSEs or equivalent, and 36.5% have more than five O-level equivalents (grade C and above), an A-level or two to three AS-levels. Those with an NVQ level 1 comprise 8.0% of

7344-497: The provision of county council functions from Dorset County Council . As from April 2019, the nine councils of Dorset were merged into two and Bournemouth became part of a unitary authority with Christchurch and Poole (known as BCP). For the purposes of the Lieutenancy it remains part of the ceremonial county of Dorset. Since the abolition of Bournemouth Borough Council in 2019, Bournemouth has had charter trustees , being

7446-440: The public were made aware of these changes, Transdev Yellow Buses held road shows across Bournemouth , Poole and Christchurch to publicise its new network, livery, branding and new fare structure. Transdev subsequently made slight changes to the network with funding from Bournemouth Borough Council, including the introduction of routes 37 and 38, the extension of route 41 at both ends to Boscombe Pier and to Throop Church , and

7548-399: The re-introduction of route 24 to Bournemouth, also restoring this route's evening service and its Sunday service between Bournemouth Railway Station and Alum Chine. Also, for the first time in recent years, Transdev Yellow Buses decided not to run services on New Year's Day 2007 except route 747, which ran a normal Monday service. In April 2010 services were expanded into East Dorset with

7650-454: The remaining portion of the amount paid to the owner. Companies that proactively shop aggressive funding sources should qualify for total debt financing of at least four times (4×) cash flow . If a bank is unwilling to lend, the management will commonly look to private equity investors to fund the majority of buyout. A high proportion of management buyouts are financed in this way. The private equity investors will invest money in return for

7752-597: The retendering process, the council-subsidised routes 18, 33 and 36 were transferred to Yellow Coaches starting from 15 August, while on the same weekend, morebus started running the route 12 (Alum Chine - Hengistbury Head) again, which had been replaced by the Buster's Beach Bus since April 2022 under Yellow Buses' operation. A large part of the Yellow Buses fleet was made up of both Alexander-Dennis and Wrightbus -bodied Volvo buses, as well as 16 to 53-seater coaches in

7854-455: The rushed introduction of the new timetables, led to scores of complaints from passengers and in October that year, Bournemouth Transport Limited, which owned and ran Yellow Buses, posted pre-tax losses of £124,000 at Companies House (generating a loss after tax of £193,000). Andrew Smith, the managing director, announced his resignation days after the accounts were published. In early 2018, it

7956-448: The same month. The National Express Group purchased the intercity coaching and engineering operations of Yellow Buses from administrators Milsted Langdon on 8 August. At the time the company ended operation, it ran the following routes in Bournemouth and surrounding area: Morebus (previously Wilts & Dorset) took over the routes 1/1b, 1a, 2, 4, 5/5a, 6, 18, 33, 36 and 737 above, and the remainder ceased operation. However, following

8058-405: The seller as it legally fixes the total future amount paid to them. It's paid like a quarterly annuity, and then the seller needs to secure the annuity by taking out a deferred consideration surety guarantee from an independent surety institution. The direct beneficiary of the surety is the seller and should the sold firm become insolvent, following its sale, with any outstanding deferred payments due

8160-453: The seller, then the surety will pay the money to the vendor on the purchaser's behalf. The vendor agrees to vendor financing for tax reasons, as the consideration will be classified as capital gain rather than as income. It may also receive some other benefit such as a higher overall purchase price than would be obtained by a normal purchase. The advantage for the management is that they do not need to become involved with private equity or

8262-554: The shares in Bournemouth Transport Limited to Transdev . The Council retained a 10% shareholding. The operation was rebranded as Transdev Yellow Buses. Transdev then decided to make its mark on Yellow Buses by giving the network a complete overhaul. This became the Big Network Change of 2 July 2006, where each bus, each journey, and each route (even route numbers) was changed. To make sure that

8364-520: The three directors of the latter company in a management buyout . In the months following the management buyout, Yellow Buses further incurred financial losses, losing £2.65 million over 15 months leading to March 2020, said to have been caused by the replacement of computer systems and the cost of the management buyout from the RATP Group. In the February of the same year, Yellow Buses stopped using Poole Bus Station due to anti-social behaviour in

8466-473: The town and a pier was approved that year. A number of wooden structures were built before an 838 feet (255 m) cast iron design by Eugenius Birch was completed in 1880. Under the Act, a board of 13 Commissioners was established to build and organise the expanding infrastructure of the town, such as paving, sewers, drainage, street lighting and street cleaning. The arrival of the railways in 1870 precipitated

8568-582: The town centre . The only injuries sustained were minor ones but over £1 million in damage was caused. From 2000 to 2001 the Tesco bomb campaign hit the town with a plot to extort money from Supermarket giant Tesco . Visitors to the town plummeted during the campaign, especially after a bomb exploded at an elderly woman's home after she opened a letter sent by the bomber. During the eight months, over seven bombs were found by Dorset Police , ranging from small letter bombs, to pipe bombs and parcel bombs. The culprit

8670-539: The town centre spawned theatres, cafés, two art deco cinemas, and more hotels. Bournemouth Corporation Tramways was established in 1902, becoming the town's first public transport system. In 1908, a deadly tram crash in the town gardens killed 7 people. Other new buildings constructed included the war memorial in 1921 and the Bournemouth Pavilion , the town's concert hall and grand theatre, finished in 1925. The Bournemouth Blitz saw heavy damage to

8772-523: The town during the Second World War despite initially escaping heavy bombing. A raid by German fighter bombers on 23 May 1943 killed 131 people and damaged 3,359 buildings, with two large hotels being completely destroyed. It is believed that the large number of RAF airmen billeted in the town may have been the reason for the attack. The seafront incurred damage when it was fortified against invasion . The cast iron lampposts and benches along

8874-522: The tram system. In 1930 more bus services were started away from the tram system, to serve Kinson and Holdenhurst when those areas were added to the borough of Bournemouth. In 1933 the corporation began to operate trolleybuses , and by 1936 replaced all the trams with trolleybuses. The trolleybuses were replaced by buses between 1963 and 1969. With the passing of the Transport Act 1985 and subsequent deregulation of bus services, Yellow Buses

8976-424: The validity of MBOs and consider them to potentially represent a form of insider trading . The mere possibility of an MBO or a substantial parting bonus on sale may create perverse incentives that can reduce the efficiency of a wide range of firms—even if they remain as public companies. This represents a substantial potential negative externality . The managers of the target company may at times also set up

9078-447: The vote, while the latter was also gained for Labour by Jessica Toale with 36.4%. However, the seats had previously both been considered Conservative safe seats. In 2022, both of the towns Conservative MPs , Conor Burns and Tobias Ellwood had the whip withdrawn forcing them to sit as Independents . Bournemouth is about 94 miles (151 km) southwest of London. The town borders the neighbouring towns of Poole and Christchurch to

9180-558: The west and east respectively. Poole Bay lies to the south. The River Stour forms a natural boundary to the north and east, terminating at Christchurch Harbour ; while the River Bourne rises in Poole and flows through the middle of Bournemouth town centre, into the English Channel. The towns of Poole, Bournemouth and Christchurch form the South East Dorset conurbation with a combined population of over 400,000. Bournemouth

9282-788: The year 2009 which showed that the Bournemouth and Poole area enjoyed the strongest annualised growth in the South-West region. In 2009 the South West Regional Accounts showed that the Financial Services sector in Bournemouth was worth £1,031.8 million in Gross Value Added . Important employers in this sector include JPMorgan , Nationwide Building Society , and the Liverpool Victoria , Tata Consultancy Services (formerly Unisys), and RIAS insurance companies. The manufacturing sector

9384-429: Was Russell-Cotes who successfully campaigned to have a promenade built; it runs continuously along the Bournemouth and Poole shoreline. Management buyout Management buyouts are similar in all major legal aspects to any other acquisition of a company. The particular nature of the MBO lies in the position of the buyers as managers of the company and the practical consequences that follow from that. In particular,

9486-446: Was announced that Yellow Buses would be reverting to an earlier route-name format - '1', '1a', '1b' and so on - these changes coming into effect on 8 April 2018. This necessitated painting and rebranding the company's entire fleet of 140 buses and updating the timetable information at more than 1,000 stops. David Squire, who had replaced Andrew Smith as MD, said: "Everything is in place for Sunday's launch of our revised network. It has been

9588-456: Was found to be Robert Edward Dyer, he was sentenced to 12 years in prison. The Waterfront complex , which was intended to hold an IMAX cinema, was constructed on the seafront in 1998. The 19-metre-high (62-foot) concrete and smoked glass building featured a wavy roof design, but was despised by residents and visitors alike because it blocked views of the bay and the Isle of Purbeck . In 2005 it

9690-417: Was good for lung conditions, and in particular tuberculosis , prompted Tregonwell and Tapps to plant hundreds of pine trees . These early attempts to promote the town as a health resort meant that by the time Tregonwell died in 1832, Bournemouth had grown into a small community with a scattering of houses, villas and cottages. The town would ultimately grow up around the scattered pines and tree-lined walk to

9792-509: Was included and was transferred on 3 March 2011. The business resumed trading as Yellow Buses. On 16 November 2013 the A1 (Airport Shuttle) once again become a Yellow Buses route, after six years of being operated by Discover Dorset. In 2016, RATP Group purchased the 10% shareholding in Bournemouth Transport Limited that it did not already own. In January 2017, Yellow Buses announced it was reorganising most of its routes "after extensive research into

9894-519: Was incorporated as a municipal borough in 1890. In 1900 it was elevated to the status of a county borough , making it independent from Hampshire County Council , whilst remaining part of the geographical county of Hampshire. The borough boundaries were enlarged on several occasions, notably in 1901 when it absorbed Pokesdown , Southbourne and Winton , and in 1931 when it absorbed Holdenhurst and Kinson (the latter being transferred from Dorset to Hampshire on its absorption into Bournemouth). In 1921

9996-520: Was incorporated as a private limited company, Bournemouth Transport Limited. All shares in the limited company were owned, however, by Bournemouth Borough Council . In 2005, with a need to modernise the fleet and a realisation that full privatisation would better equip the operator to overcome the increasing competition it was facing from Wilts & Dorset , the Council offered the company for sale. In December 2005 Bournemouth Borough Council sold 90% of

10098-584: Was the subject of a management buyout in 2004 by Tom Singh , the founder of the company who had floated it in 1998. He was backed by private equity houses Apax and Permira , who now own 60% of the company. An earlier example of this in the UK was the management buyout of Virgin Interactive from Viacom which was led by Mark Dyne. The Virgin Group has undergone several management buyouts in recent years. On September 17, 2007, Richard Branson announced that

10200-710: Was voted the most hated building in England in a 10,000-person poll conducted by the Channel 4 programme Demolition , and was pulled down in spring 2013. The site is now used as an outdoor event arena. The council has recently completed a larger redevelopment of the site and adjoining council land. In 2010, Bournemouth celebrated its bicentenary. In 2012 Bournemouth was unsuccessful in its bid for city status , losing out to Chelmsford , Essex in competition with 26 other towns to commemorate Queen Elizabeth II 's Diamond Jubilee . Bournemouth sought city status once again for

10302-448: Was washed up at "La Bournemothe" in October of that year and taken to the Manor of Wick ; six days later, a portion of the fish was collected by a canon from Christchurch Priory and taken away as tithe . "La Bournemowthe", however, was purely a geographic reference to the uninhabited area around the mouth of the small river which, in turn, drained the heathland between the towns of Poole and Christchurch. The word bourne , meaning

10404-527: Was −10.4 °C (13.3 °F) in December 2010. The February and winter month record high was broken in 2019, with a temperature of 17.8 °C (64.0 °F). Bournemouth lies at the centre of a green belt region that extends into the wider surrounding counties. It is in place to reduce urban sprawl , prevent the towns in the South East Dorset conurbation from further convergence, protect

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