Whippet buses has been sold to an Australian firm, says former director Peter Lee.
The sale of the Swavesey-based company to Tower Transit was completed on Friday (November 14).
Speaking to The Hunts Post, Mr Lee, whose grandfather Henry set up the business, said the decision to sell had been a tough. "It's been going for 95 years and we would have liked to have made it to the 100th year. But the family is getting older and we decided we would not go to a fourth generation so we thought this would be the best move.
"It was the right time to make a change and let someone else have a go and make the business a success.
"At the moment the business is in a good position and we would like it to remain that way."
Whippet Coaches Ltd was originally based in Graveley, where Henry lived after moving from London. It moved to Hilton, then Fenstanton before shifting to its current headquarters in Swavesey five years ago.
It has a fleet of about 50 buses and employs about 100 people. No jobs were threatened by the sale, said Mr Lee, who preferred not to reveal how much the company had been sold for.
He added: "We would like to thank everyone who supported us over the years and all the staff. We hope the new business has a successful future."
Tower Transit operates buses in London and is part of Transit Systems, which runs bus services across Australia.