Kingsbridge firm Tally Ho! Coaches has been bought by Don McIntosh and Richard Pullan for an undisclosed sum.
The firm had been owned by the Wellington family since the early 1960's.
The family's links with coaching in Kingsbridge go back three generations, to 1926.
Unfortunately, Simon Wellington, who has managed the company since 1984, has been unwell and the family decided to put the business up for sale.
The new owners say they will be continuing the business in Kingsbridge and Lee Mill, and plan to invest in new vehicles and systems.
"We will continue the proud traditions that Tally Ho! has stood for under the ownership of the Wellington family," the pair said in a statement.
Mr McIntosh has lived in Kingsbridge for many years and was formerly a manager at HSBC.
Recently he has been managing director at Quba Sails, a local clothing company.
Mr McIntosh will be involved in the business on a day-to-day basis. He is also the treasurer of Kingsbridge RFC.
Mr Pullan lives near Modbury and has a number of property and business interests in the South Hams and across the UK.
He says he is delighted to have an opportunity to support such an important local business.
comments
What do you think? Give us your opinion on the comments page.