Prism Rail plc
IndustryTransport
FoundedJuly 1995
Defunct19 September 2000
FateTakeover
SuccessorNational Express
ProductsRail transport

Prism Rail[1] was formed in July 1995 to bid for rail franchises in the United Kingdom during the privatisation of British Rail. It expressed interest in eighteen franchises, was shortlisted for twelve and was ultimately awarded four, LTS Rail, Valley Lines, Wales & West, and West Anglia Great Northern.[2]

Prism Rail was founded by a number of individuals from the bus industry. The company raised the money to acquire its first passenger rail franchise from a small number of institutional investors, following which the shares were listed on the Alternative Investment Market in May 1996.[3][4]

In July 2000 Prism Rail was purchased by National Express.[5][6] The merger of the companies was completed on 19 September 2000.[7]

In the following four years LTS rebranded as c2c, Valley Lines and Wales & West merged into Wales and Borders, and WAGN was split.

References

  1. ↑ Companies House extract company no 3081303 Prism Rail plc
  2. ↑ "Passenger Rail Franchises". 31 January 2002. Archived from the original on 30 September 2007.
  3. ↑ Founders of Prism Rail in £27m shares bonanza The Independent 15 October 1996
  4. ↑ Prism drops share scheme after big investors' protest The Independent 21 January 1997
  5. ↑ National Express buys Prism for £166m The Daily Telegraph 19 July 2000
  6. ↑ National Express buys Prism for £166m The Guardian 19 July 2000
  7. ↑ "Base Prospectus: National Express" (PDF). Merrill Corporation. 21 December 2009. Retrieved 3 February 2023.


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