MBH Corporation drives ahead with Intercity Taxis acquisition
MBH Corporation has added another taxi business to its transport arm with the acquisition of Stoke-on-Trent-based Intercity Taxis.
The deal is the group’s fourth acquisition this year, its 26th in total and its fourth taxi firm.
Intercity Taxis is a tactical acquisition for the group and will reside under Take Me (formerly ADT Taxis) within the group’s transport division.
Intercity Taxis’ has a 40 year history and averages over 150 drivers to a fleet of 120 taxis.
The company’s largest account is Staffordshire County Council and numerous other local authorities use the company to provide school run services.
Intercity Taxis’ generated £2.1m in revenue for the year 31 May 2020.
The total consideration for the acquisition of Intercity is approximately £3-4m (pending audit).
David Hunter, CEO, Take Me Group, said: ”We are beyond delighted to have Intercity Taxis join our Group. They are a historically brilliantly run firm, operating within a stable and established market. This presents a huge opportunity for continued growth for the transportation vertical within the MBH portfolio which we’re proud to be a part of.”
Callum Laing, CEO, MBH Corporation, said: ”Intercity Taxis is one of the very best in their field, being innovative, forward facing and proactive and we are excited to have them as part of our growing portfolio as we add more to our transportation vertical.”