A Singapore-based transport group that already operates bus and taxi services across the North West has bought a regional holiday transport specialist for £80.2m.
Lancashire's CMAC Group has been acquired by ComfortDelGro Corporation through its wholly owned subsidiary CityFleet Networks.
CMAC manages journeys for almost three million travellers every year on behalf of airlines and ground handlers, train operators and corporate clients. It has operations in the 海角视频, France, Spain, Portugal, Greece and The Netherlands and, through its Suntransfers brand, offers private and share-ride transfers to more than 500 airports, stations and ports.
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The CMAC deal means ComfortDelGro now operates in 12 countries worldwide.
CityFleet Networks operates taxi, car and coach companies in the 海角视频. Its businesses include ComCab (Liverpool), Argyle Satellite taxis in Wirral and KingKabs in Chester - as well as ComCab (Aberdeen). Its fleet now includes more than 1,800 vehicles.
Meanwhile, the ComfortDelGro group also operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales, Megabus and Scottish and Irish Citylink inter-city coach services.
Worldwide the group has a fleet of 34,000 buses, taxis and rental vehicles and manages millions of daily customer journeys across Singapore, Australia, New Zealand, China, Ireland, France, Malaysia and the 海角视频.
CMAC will operate as a standalone business led by its current senior team, including chief executive Peter Slater.
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He said: "We are excited to be part of a bigger family in Europe and globally. With our strong history, innovation expertise and team, CMAC would be growing aside with ComfortDelGro Group and will continue to deliver value to our customers and partners.
“I'm immensely proud of CMAC’s history and achievements, which wouldn’t have been possible without our fantastic team, valued clients and trusted supply partner network. I look forward to continuing our commitment to delivering a highly valued service as well as being an employer of choice."
Edward Thomas, European chief executive with ComfortDelGro, added: "This acquisition is aligned with ComfortDelGro’s strategy to expand our point-to-point mobility services and offerings.
"As an established player in providing wide-ranging emergency passenger transport services to businesses, CMAC is complementary to our operations in the 海角视频 and Europe, allowing us to expand our business-to-business offerings in the region. In addition, as part of the wider ComfortDelGro Group, CMAC will be able to tap into our deep market knowledge to grow its business and reach."
Legal advice was provided by DWF. Partner Jonathan Robinson led the corporate team, working alongside Rebecca Gargary, Tom Rank, Katy Butler and Raili Haslam.
Mr Robinson said: "Having worked with the CMAC team for some time, we are delighted to have supported CMAC on this successful transaction. We look forward to seeing the positive impact of the integration of CMAC and ComfortDelGro's operations in providing extensive mobility services and increase connectivity among 海角视频 communities.”
CMAC was also advised by KPMG Corporate Finance (Christian Mayo, Mike McDonald, Ed Crocker, Jamie Taylor, Callum Clark), and KPMG Transaction services (Chris Stott, Nilesh Patel, Sonali Sud).
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Mr Mayo, a corporate finance partner, said: "This is a fantastic deal for the region and showcases the tremendous growth the company has achieved to date, attracting interest from a global leader in mobility in ComfortDelGro, ensuring the continuation of the CMAC success story.”
Also advising on the deal were Nicola Clough and Ashley Parry from RSM.