Preston’s Millers Taxis revs up after MBO

A LANCASHIRE private hire cab business with roots dating back to 1870, is driving into a new era after a management buyout.

Millers Citax, which operates as Millers Taxis in Preston has been bought by a management team lead by MD Peter Osbourne from Sam McCullough.

The MBO team, which also includes Gordon Ryding, Tony Abram, Rachel Broxton and Val Mason, has acquired the business through new company Millers Taxis (Preston) Ltd for an undisclosed sum.

Millers is the largest taxi firm in Preston with 230 vehicles and drivers along with 20 support staff. Based on Brook Street in the city,  it provides contract and private hire services across the North West, with clients in the local authority, healthcare, and corporate sectors, as well as the general public.

The business  was originally founded in 1870 with a fleet of more than 50 horse drawn cabs.

Today Millers has a growing executive division providing transport for airline and rail crews between airports and railway stations across the country.

Peter Osbourne, managing director of Millers Taxis, said: “The business has grown significantly over the last decade and we’re looking to continue expanding.

“We already work with many businesses and organisations in the region and we’re also focusing on other forms of passenger transport too, such as our executive work which is growing thanks to our continued investment in vehicles, technology and training.”

The management team was advised by the corporate finance team at Moore and Smalley chartered accountants and by a team from law firm Napthens, led by head of corporate Keith Melling.

Paul Bennett, senior corporate finance manager at Moore and Smalley, said: “Each member of the management team has been with Millers for a many years and this detailed knowledge of the business enables greater continuity as the Millers looks forward to the future under new ownership.”

Millers also provided the first motorised ambulance to serve Preston and introduced the first charabanc, or coach, in the North of England. During the 1960s, Millers also introduced the first black cabs to Preston.
            
It was owned by the Miller family until 2000 when it was bought by Mr McCullough.