Taxi firm revs up for growth after MBO

Arnie Singh with advisers on the deal

Taxi firm City Taxis, which operates in Chesterfield and Derby, has completed a management buyout.

Over the last four years City Taxis has carried out multiple strategic acquisitions across and beyond it Sheffield headquarters, expanding into Barnsley, Chesterfield, Derby and Rotherham.

The firm operates a fleet of 1,750 vehicles averaging over 130,000 journeys per week.

The MBO sees Arnie Singh continuing in his role as managing director.

He said: “I am very grateful to the outgoing shareholders. Without their hard work and foresight, particularly in the early days, we certainly wouldn’t be where we are today. We have invested heavily, particularly in technology through our App which is widely used by our customers. The industry is constantly evolving, and we have the foundation of a solid infrastructure with which to continue developing our product and service offering.”

Corporate finance advice for the buyout was provided by a BHP Corporate Finance team of Tim Brind and John Warner with funding for the transaction coming from Andrew Marsh, Neil Bradburne and Ben Carver at Barclays Bank. Legal advice was provided by a team led by Ben Hendry and Luke Chapman of CMS.

Click here to sign up to receive our new South West business news...
Close