Prism Rail, the consortium which this week took over the running of the
London, Tilbury and Southend line, has turned to Buchanan Communications
to help promote the so-called misery line to investors.
Hired last week after pitching against College Hill and one other
consultancy, Buchanan has been briefed to drum up interest in Prism
among potential investors as it floats on the Alternative Investment
Market this week.
The account team, headed by directors Tim Anderson and Mark Edwards, has
been briefed to target the financial press and City analysts in the
transport and smaller companies sectors. ‘Our role is to help persuade
people that the group is an attractive investment,’ explained Edwards.
Dubbed Britain’s most hated railway, the London, Tilbury and Southend
railway has been dogged for years by overcrowding, breakdowns and
vandalism. In February the management team which won the original
franchise to run the line was forced to pull out following allegations
of ticket irregularities.
Prism, which is a consortium of 11 managers from four bus companies -
Blazefield, EYMS, Lynton and Q Drive - with backing from City
institutions, will operate the route until 2011. It has pledged to spend
pounds 14 million upgrading stations, including the construction of a
new one at West Ham in east London, and to provide new trains by