A MAJOR transport firm whose clients have included two US presidents has been taken over in a £1.8m management buy-out.

Liphook based AMK, which specialises in wheel-chair friendly mini-coaches, was established 33 years ago as a single vehicle business by husband and wife team Kevin and Angela Moger.

They are now planning to retire after seeing their firm grow to a fleet of more than 100 coaches.

AMK employs 130 staff with a turnover exceeding £2.5m, largely from long term contracts with local authorities delivering transport for education, social services and public transport departments.

But the business also offers chauffeur-driven mini-coaches and people carriers, catering for the transport needs of a large base of private and corporate customers, including leading blue chip companies, hotel chains and event organisers.

Among its high-profile clients, AMK has provided transport for the entourages of US presidents George Bush and BiIl Clinton, central government departments and a host of international celebrities.

New owners Graeme Fraser, Matt Dummer and Mark Glazier took control in a friendly bank-funded acquisition, completed by the Southampton based team of corporate financiers Fanshawe Lofts.

They have immediately appointed a general manager, Andy Higgins, and plan to run AMK alongside their existing business, Glide Rite Products Ltd, a global market leader in the development of air suspension and wheelchair access products. Rosemary Penn-Newman of Fanshawe Lofts said: "AMK has consistently delivered profits and has developed a first class reputation in Surrey, Hampshire and West Sussex. But there has been considerable scope to accelerate the company's growth in recent years, both by developing geographically and by responding to new opportunities in the public transport sector."

AMK's new sales director Mr Fraser added: "The new team are all excited by the potential which they offer for further development and expansion."