Liam Reid, former owner of Reid Transport, a transport planning and haulage company, has ploughed funds into Chambers Coaches.
According to the BBC, Mr Reid's firm went bankrupt in 2007, with debts of over £3 million.
The news provider reports that Pricewaterhouse Coopers administrators, who were called in after efforts to sell the firm failed, sold the company's assets – including its lorries and cars - for £500,000.
Some 200 employees at the company lost their jobs as a result and subsequently demonstrated outside the Reid Transport site.
They claimed they had not been paid, but were later reimbursed by the administration.
Meanwhile, Chambers Coaches, which also encountered difficulties in 2007, was acquired by Enterprise Equity NI.
It is the largest coach and bus operator in Northern Ireland, having been established some 35 years ago. It has recently announced that it is to invest £5 million in state-of-the-art coaches and a new operating centre.
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