London private taxi hire giant Addison Lee has been bought by ComfortDelGro Corporation Limited’s wholly-owned subsidiary CityFleet Networks for £269.1 million.
CityFleet Networks will acquire the operator’s 7,500 drivers and 5,000 vehicle fleet and will expand the service into other UK cities including Liverpool, the Wirral, Chester and Aberdeen under the buyer’s ownership.
ComfortDelGro’s Managing Director & Group CEO, Cheng Siak Kian said:
“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.”
The Group also owns and operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales, as well as the Megabus, Scottish Citylink and Irish Citylink inter-city coach services.
The CEO of Addison Lee, Liam Griffin, said:
“This, alongside the strength and heritage of the Addison Lee brand, has positioned us perfectly for further expansion into the premium segment. ComfortDelGro is a perfect complementary fit for us. They share our philosophy, vision, and ambition for the Addison Lee brand and bring significant international industry expertise to the business.”
The addition of Addison Lee will grow the Group’s taxi and private hire network to more than 34,000 vehicles globally.
