Acquisition creates UK’s largest taxi credit hire organisation
CREWE-based Kindertons, a nationwide provider of outsourced accident management services for motor insurers, has bought Sovereign Automotive in an undisclosed deal.
Sovereign Automotive, based in Epsom, provides credit hire taxis to not-at-fault drivers who have been involved in a road traffic accident from its fleet of taxis, doubling Kindertons’ capacity in this niche area to become the UK’s largest taxi credit hire provider.
Sovereign Automotive adds both new referral relationships to Kindertons as well as further capacity to service the Greater London area.
The combined group will generate 35,000 vehicle hires a year from its fleet of approximately 4,000 vehicles delivered from 14 depots Nationwide.
Neil Cunningham, group chief executive of Kindertons added: “I have been very impressed with the Sovereign Automotive team who, like Kindertons, are totally committed to delivering exceptional customer service.
“We are pleased to be developing this high-value area of our business and support taxi drivers to get back on the road as quickly as possible. Kindertons’ continues to achieve considerable growth and we look forward to taking the business from strength-to-strength.”
Kindertons is a portfolio company of Sovereign Capital and under its ownership has grown staff from 450 in 2013 to more than 780.
Turnover has increased by 74% to around £93m and in that time it has more than doubled its fleet, with a particular focus on prestige vehicles, 4x4s, taxis and motorbikes.
Neil Cox, partner at Sovereign Capital said: “We are delighted to support the Kindertons management team with their second acquisition, extending their existing taxi hire offering and referrer base.”
