Thu, 17 Jun 2021 | BUSINESS SALE
Premium private car hire firm Addison Lee has announced the acquisition of black taxi firm Computer Cab (ComCab), in a deal that will create London’s largest cab company. The deal, for an undisclosed sum, involves Addison Lee acquiring the London operations of ComCab, City Fleet Networks and Flightlink International from Singapore firm ComfortDelGro.
ComCab has around 2,500 vehicles, which will grow Addison Lee’s fleet to more than 7,000. As well as creating London’s largest private car hire firm, the acquisition will create the capital’s biggest same-day courier platform. Following the acquisition, Addison Lee’s car, taxi and courier services will be united on one platform.
The acquisition follows years in which app-based private car and courier hire businesses have eaten into the market share of traditional operators, such as black cab firms. In London, in particular, Addison Lee has grown to be the market leader for premium private car hire, while black cabs have also been hit by the emergence of firms like Uber.
Liam Griffin, CEO of Addison Lee, commented: “I am sure there will be a few raised eyebrows at this deal given that Addison Lee and black taxis were once seen as competitors. However, the industry we operate in has changed and this alliance combines the two most professional companies in our sectors who share the same focus on quality of service, the customers we serve and the importance of the drivers.
"We have always held the black taxi as our benchmark, and it’s now a privilege to be able to work with them. As London emerges from the pandemic, there’s going to be a significant increase in demand for safe, quality transport from both corporates and consumers.”
“The London black taxi is iconic and famous as the best taxi service anywhere in the world. By bringing Addison Lee and ComCab together we consolidate our position as the market leader in corporate ground transport and we will be able to meet the need for quality and excellence in a way that none of competitors can.”
CityFleet Networks CEO Rudy Tan added: “By joining forces with Addison Lee, our customers will have access to a wider choice of premium transport solutions, and our Hackney Carriage drivers will get access to a growing pool of customers and more opportunities to work. Keeping the ComCab branding will preserve our status as the leading taxi operator in London.”
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