The buses were painted blue and transformed into the Royal Blue Bus Service, also connecting to Featherston as well.
Since it was founded, the family has carried on the business and it's thought Albert's daughter Joan may have been the first female in New Zealand to become a licensed bus driver.
The Gold Award nomination was great news for Tranzit, said Paul Snelgrove, managing director.
"We would not be who we are today without our dedicated staff and four generations of family."
One of Tranzit's successes was gaining a contract for the Rugby World Cup 2011.
Mr Snelgrove said there was initially some doubt from organisers.
"They questioned who we were and why a family bus company from Masterton thought they could take on a nationwide sporting event and coincidentally the fourth largest sporting event in the world."
However, the business proved itself gaining the contract to transport teams, VIPs, sports officials and media during the event.
The Gold Awards celebrate business excellence in the Wellington region and winners will be announced on June 19.
Other Wairarapa finalists include Matahiwi Vineyard and Wings over Wairarapa.