SGX-listed transportation firm ComfortDelGro Corporation is acquiring Addison Lee, London’s premium private hire, courier, and black taxi provider for £269.1 million ($347 million), according to an announcement.
ComfortDelGro will acquire the UK’s largest premium point-to-point operator through its wholly owned subsidiary CityFleet Networks, a bourse filing shows.
On completion, the 7,500 drivers and 5,000 vehicles of the Addison Lee network will join CityFleet Networks’s existing private hire and black taxi flees elsewhere in the UK, including Liverpool, the Wirral, Chester, and Aberdeen, ComfortDelGro said.
About 90% of Addison Lee’s existing fleet is already made up of cleaner energy vehicles, which, ComfortDelGro said, will help accelerate its fleet transition journey.
In April, ComfortDelGro secured a S$100-million ($73 million) loan facility from Singapore-based DBS Bank to finance the greening of its bus fleet in the UK.
The acquisition will extend ComfortDelGro’s London footprint and grow its taxi and private hire network to more than 34,000 vehicles globally.
The group also owns and operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales, as well as the Megabus, Scottish Citylink, and Irish Citylink inter-city coach services.
“Beyond expanding our footprint in the UK, this acquisition will enable us to leverage Addison Lee’s expertise to deepen and scale our premium point-to-point capability globally,” said ComfortDelGro managing director and Group CEO Cheng Siak Kian.
ComfortDelGro is one of the world’s largest land transport companies with a total fleet size of about 34,000 buses, taxis, and rental vehicles. It also runs 177 km of light and heavy rail networks in Singapore and New Zealand and will operate another 33 km in France from 2025.
In February, the group announced that it acquired the UK-based ground transport management firm CMAC Group for around £80.2 million (about $100 million, through CityFleet Networks.
ComfortDelGro chairman Mark Greaves said the acquisition of Addison Lee is in line with the group’s strategy to expand its point-to-point mobility portfolio.
“We will leverage Addison Lee’s strong brand, customer base, and reliable premium driver network to continue creating great journeys for our customers and the communities we serve,” Greaves said.
Addison Lee, on the other hand, is moving to an electric standard passenger fleet with the rollout of Volkswagen ID.4s and zero-emission capable VW multivans. In 2021, the company acquired ComCab, the iconic black taxi service firm. It also acquired Green Tomato Cars, a London-based car service, in 2023.
Addison Lee CEO Liam Griffin said the acquisition positions the company for further expansion into the premium market.
“ComfortDelGro is a perfect fit for us. They share our philosophy, vision, and ambition for the Addison Lee brand and bring significant international industry expertise to the business,” Griffin said.
