National Express Group plc (LSE: NEX) is a British transport group with headquarters in Birmingham that operates bus, coach, rail and tram services in the UK, the US and Canada, Spain, Portugal and Morocco and long-distance coach routes across Europe. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The National Express brand was created in 1972 by the state-owned National Bus Company (NBC) to bring together the express bus and coach services operated by the bus operating companies within the NBC group. The National Express network was largely a branding and management exercise, with services continuing to be operated by the individual companies.
With the privatisation of the NBC in the 1980s, National Express was subject to a management buy-out in 1988. The management team began to diversify, and acquired the bus company Crosville Wales, but its financial performance began to deteriorate from early 1990. A new management team took over the company in 1991, with the backing of development and venture capital investors. The new team refocused the group on its core activities and sold Crosville Wales. In 1992, National Express Group PLC was floated on the London Stock Exchange with a remit to acquire new businesses in the passenger transport market.