Leading transport and accommodation solution provider, CMAC Group, has acquired managed taxi specialist Cabfind from Transdev; the new group will have revenues in excess of £50m.
The acquisition expandsCMAC Group’s ground transport offer, establishingthe largestavailable network of private hire, executive vehicles and coaches in the UK servicing wide range of industries including rail, airline, travel management and professional services.
Merseyside-based Cabfind was established in 2002 and has grown into one of the UK’s largest suppliers of corporate managed transport solutions. In 2015, it was acquired by Transdev, Europe’s leading transport operator and employs 120 people across two sites in the UK.
Lee Wasnidge, Managing Director of Cabfind, commented, “It was important for both Cabfind and Transdev to find a new parent company who shared our strategic vision and would provide Cabfind with the opportunity to flourish and compete in a very aggressive market. I am delighted to say we have found that appetite from CMAC.”
“This change of ownership to a business with a direct focus for growth within the business taxi market will enable the company to be better positioned to compete in the ever-evolving mobility market place.”
CMAC delivers a range of transport products and moves more than a million passengers each year, providing accommodation for thousands more. The company was established more than 11 years ago and employs 120 people across its head office in Accrington and base at Manchester Airport.
Steve Turner, Chief Executive Officer of CMAC Group said: “The acquisition of Cabfind continues our growth strategy and expands our range of transport solutions.
“There are many complementary products and servicesacross the two companies and we look forward to supporting Cabfind’s customers with a greater focus on technological innovation and customer support, providing a seamless travel solution for customers. We’re really excited about the opportunities that the expanded group bring to our customers, suppliers and colleagues.”
Deal was advised by Seneca Partners and NapthensSolicitors