CityFleet Networks, a subsidiary of Singapore-listed global mobility services group ComfortDelGro Corporation, is acquiring London private hire cab and courier company Addison Lee for £269.1m (€323m).
ComfortDelGro chairman, Mark Greaves, said: “This acquisition is in line with our strategy to expand the group’s point-to-point mobility portfolio. With 90% of their existing fleet already made up of cleaner energy vehicles, this will help accelerate our fleet transition journey.”
ComfortDelGro’s managing director/group CEO, Cheng Siak Kian, said: “This acquisition will further grow the group’s presence in the UK.”
Liam Griffin, CEO of Addison Lee said: “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 market. ComfortDelGro is a perfect fit for us.”
In addition to operating CityFleet Networks in several locations across the UK, ComfortDelGro also owns and operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales, as well as the Megabus, Scottishn Citylink and Irish Citylink inter-city coach services.
Currently, the group operates a total fleet size of 40,000 buses, taxis and rental vehicles, and 210km of rail network in operation and under development, spanning 12 countries in Asia, Australasia, Europe and the UK.
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