Taxi Driver Online

Newport taxi operator Veezu acquires Dragon Taxis in Cardiff in multi-million pound deal


Dragon Taxis joins the Veezu portfolio of cab companies including Bridgend based Radio Cabs, Dragon Taxis in Newport and Solihull based A2B Radio Cars

Veezu, a taxi and private car hire group based in Newport, has completed its second acquisition in nine months and bought Cardiff-based Dragon Taxis in a multi-million pound deal supported by Santander Corporate & Commercial.

Veezu was founded by Welsh entrepreneurs; Paul Ragan (founder of Welsh insurance broker, Protectagroup and former Cardiff Devils Ice Hockey chairman) and Nathan Bowles (founder of Smart Solutions Recruitment), who both have plans to lead consolidation in the UK Private Hire Sector.

The firm already owns Bridgend based Radio Cabs, Dragon Taxis in Newport and Solihull based A2B Radio Cars.

Acquisition of Dragon Taxis was a natural step

Today, Veezu employs 1,500 drivers, and completes around 6.5 million journeys a year moving in excess of 12 million passengers.

The business plans to invest in key infrastructure developments including a mobile application, Interactive Voice Response (IVR) and cloud based technology.

The multi-million pound finance package from Santander includes £2.5m in growth capital funding.

The growth capital loans are available to businesses with annual turnover of £500,000 up to £50m which have a demonstrated history of high year on year growth in turnover, profit or employment.

We have exciting plans to merge our Bridgend and Newport businesses

Paul Ragan, CEO, Veezu Ltd, said: “As a Welsh based business, it was important that we provided the best and most reliable service in our capital city.

"We have exciting plans to merge our Bridgend and Newport businesses, which will see the company grow to 1,000 cars servicing South Wales’ B2C and B2B markets.

"We are investing heavily in improving technological capabilities to provide a better experience for our customers.

"The acquisition of Dragon Taxis was a natural step for us in terms of location and we’re delighted to be able to work with an additional 600 drivers.”

The UK Private Hire and Hackney industry is estimated to be worth £6bn

Andrew Woodgate, Relationship Director, Santander Corporate & Commercial, said: “Veezu has seen rapid success due to it fully understanding its market, the service requirements and customers.

"The business is showing strong signs of growth in a relatively short space of time and this latest investment in new technologies is a clear indicator of Veezu’s wish to provide a better experience for all of its stakeholders.

"Veezu is an example of another high growth business which is taking up Growth Capital funding.”

Current Dragon managing director Ryan Owen will remain at the helm and Gareth Owen will remain on board as a non-executive director.

The UK Private Hire and Hackney sector is changing quickly with new technologies entering the market.

De-regulation has recently received Royal Ascent, which is likely to increase consolidation as cross-border hire becomes a restriction no longer later this year

source: http://www.walesonline.co.uk/business/b ... es-9247408

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

A taxi company that "employs" drivers? Surely not??

Why not? We do.

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Grandad,

Like many on here will know, they won't be employing them they'll be owner drivers or rental drivers.

I bet they don't.

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IDFIMH

11 jobs a day.

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IDFIMH