Leading UK premium private hire, courier and black taxi provider Addison Lee is to be acquired for £269.1 million by CityFleet Networks, part of the ComfortDelGro group.
The acquisition will see the 7,500 drivers and 5,000 vehicles of Addison Lee’s London-based network join CityFleet Networks’ existing private hire and black taxi fleets elsewhere in the UK including Liverpool, the Wirral, Chester and Aberdeen.
As a result the ComfortDelGro group’s London footprint will be extended and its taxi and private hire network expand to more than 34,000 vehicles globally.
Announcing the acquisition, ComfortDelGro’s managing director and group CEO Cheng Siak Kian described Addison Lee as an established leader in serving the premium segment in London.
“Beyond expanding our footprint in the UK, this acquisition will enable us to use Addison Lee’s expertise to deepen and scale our premium point-to-point capability globally – it will also strengthen our overall point-to-point proposition, creating strong synergy with our existing businesses,” he added.
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Addison Lee CEO Liam Griffin described the tie-up with ComfortDelGro as a perfect complimentary fi;.“Over the last four years, ComfortDelGro has demonstrated its deep knowledge of the business, and a clear understanding of our customers’ and drivers’ needs. This, alongside the strength and heritage of the Addison Lee brand, has positioned us perfectly for further expansion into the premium segment.
“They share our philosophy, vision, and ambition for the Addison Lee brand and bring significant international industry expertise to the business.”
In addition to operating CityFleet Networks in several locations across the UK, ComfortDelGro provides pre-planned and on-demand ground transport to businesses, as well as private and ride-share transfers to airports, bus and railway stations and ports through its recently acquired business, CMAC.
The Group also owns and operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales and the Megabus, Scottish Citylink and Irish Citylink inter-city coach services.