Kelsian Group (ASX:KLS) has entered into agreements to acquire Horizons West Bus and Coachlines for $23.4M.

Kelsian says there?s also an earn-out component of up to $7M, and property assets to be acquired for $16.7M.

Founded in 1985, Horizons West owns and operates 138 buses from two strategic depot locations.

The acquisition will be funded from existing cash reserves and is expected to be completed in late 2022.