ComfortDelGro to Acquire Addison Lee for £269 Million

In a strategic move to enhance its presence in the premium transportation market, ComfortDelGro has announced its acquisition of Addison Lee for £269.1 million. This acquisition is poised to expand ComfortDelGro’s capabilities in the UK and global mobility sectors.

Strengthening Market Presence

ComfortDelGro, a prominent player in the transportation industry, aims to deepen its footprint in the UK through this acquisition. Cheng Siak Kian, Managing Director and Group CEO of ComfortDelGro remarked, “Addison Lee is an established leader in serving the differentiated premium segment in London.” He further emphasized that the deal will leverage Addison Lee’s expertise to strengthen ComfortDelGro’s overall point-to-point service offerings.

Expanding Fleet and Services

Following the acquisition, Addison Lee’s extensive network, comprising 7,500 drivers and 5,000 vehicles, will merge with CityFleet Networks, ComfortDelGro’s subsidiary. This integration will enhance service efficiency across the UK, where ComfortDelGro already operates private hire and black taxi services. Kian stated that the acquisition is expected to create significant synergies, enabling a more robust and diverse service offering for customers.

Leadership Continuity

Liam Griffin, CEO of Addison Lee, expressed confidence in the partnership, stating, “ComfortDelGro has demonstrated its deep knowledge of the business and a clear understanding of our customers’ and drivers’ needs.” Griffin, along with the current management team, will remain in place to steer the company through its next growth phase, ensuring continuity and stability post-acquisition.

Environmental Commitment

An essential aspect of this acquisition is ComfortDelGro’s commitment to sustainability. Mark Greaves, ComfortDelGro’s Chairman, noted that 90% of Addison Lee’s existing fleet comprises cleaner energy vehicles, which aligns with the group’s ongoing fleet transition toward greener options. This focus on sustainability underscores the company’s strategy to create environmentally friendly transportation solutions.

Conclusion

The acquisition of Addison Lee marks a significant milestone for ComfortDelGro as it seeks to enhance its premium mobility services and expand its market share. By integrating Addison Lee’s resources and expertise, ComfortDelGro is poised to create greater value for its customers and solidify its position in the competitive transportation sector.