Tables turned on CMAC following acquisition by Singapore-listed group
Highly acquisitive Accrington-based managed ground transport and accommodation specialist, CMAC Group, has, itself, been acquired by the Singapore-listed land transport group, ComfortDelGro Corporation, through its CityFleet Networks subsidiary, for a reported £80.2m.
Last July, CMAC completed the takeover of Netherlands-based Airline Services & Accommodation Partner, its fourth acquisition in the space of a year.
CMAC has operations in the UK, France, Spain, Portugal, Greece and The Netherlands, managing journeys for close to three million travellers annually on behalf of airlines and ground handlers, train operators, corporations and consumers.
Through its Suntransfers brand, CMAC provides private and share-ride transfers to more than 500 airports, stations and ports worldwide.
The acquisition is aligned with ComfortDelGro’s strategy to expand its point-to-point mobility services and offerings, and increases the group’s footprint to 12 countries worldwide.
In the UK, the mobility group owns and operates taxis and private hire vehicles through CityFleet Networks in Aberdeen, Liverpool and the North West region. It also operates Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in Wales, as well as the Megabus, Scottish and Irish Citylink inter-city coach services.
CMAC will remain operationally independent and led by its current senior team, including CEO Peter Slater. CMAC will continue to work with its existing and valued clients and supply partners.
Peter Slater, CEO of CMAC Group, 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.”
He added: “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, CEO of Europe, ComfortDelGro said: “As an established player in providing wide-ranging emergency passenger transport services to businesses, CMAC is complementary to our operations in the UK 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.”
ComfortDelGro Corporation operates a total fleet size of 34,000 buses, taxis and rental vehicles, and runs 210km of rail network in operation and under development, managing millions of customer journeys daily across its global operations that span eight countries.
The company has a group annual revenue of £2.24bn.
CMAC Group was 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).
Also advising on the deal were: DWF (Jonathan Robinson, Rebecca Gargary) and RSM (Nicola Clough, Ashley Parry).
Christian Mayo, Partner, Corporate Finance at KPMG UK, 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.”
