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Addison Lee becomes London’s largest taxi firm with ComCab deal

Addison Lee has inked a deal to acquire black cab operator ComCab, creating the capital’s largest private hire and taxi firm.

Under the terms of the deal, Addison Lee will purchase the London operations of ComCab, City Fleet Networks and Flightlink International from the ComfortDelGro Corporation.

The combined company will have over 7,000 vehicles, making it London’s largest private hire and taxi firm, as well its largest same-day courier business. Financial details were not disclosed.

Addison Lee chief executive Liam Griffin said he was “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.”

The company plans to merge its operations together, meaning customers will be able to book a car, taxi or courier service on one platform.

Addison Lee, which was founded in 1975, is London’s largest private hire company, providing services to 80 per cent of the FTSE 100.

However, it has been facing increased competition from ride-hailing firms such as Uber.

In January last year the company was saved from collapse by a consortium of eight banks, who vowed to inject £45m investment into the company and refinance £100m of the company’s £250m of debt.

They also reinstated Liam Griffin, son of founder John Griffin, as chief executive.

Rudy Tan, chief executive of City Fleet Networks, said: “We are excited to be coming together with a strong brand like Addison Lee that shares many of our same values.

“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.”

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IDFIMH

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IDFIMH

AL hasn't exactly sparkled since griffin sold them so maybe this is an attempt to do the old "Uber trick" and create growth to make sure investors come out of it with a profit

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Taxis Are Public Transport too

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