Leeds taxi firm sold to Welsh transport group

LEEDS-BASED taxi firm Amber Cars has been sold to Welsh group Veezu.

Amber, which has 750 drivers and 150 company-owned vehicles in the region, has been snapped up by Veezu as it continues on its aggressive acquisition trail.

Established by Andy Pennock, the 25 year-old firm has now been added to Veezu’s portfolio, bringing it’s car numbers to 2,250, with 235 office staff and a fleet of self-employed drivers.

This is the South Wales-based firm’s third acquisition in just over a year.

Veezu, which was founded by Welsh entrepreneurs Paul Ragan and Nathan Bowles.

The Corporate Finance team based in Mazars’ Leeds office, led by corporate finance partner Rob Burton and supported by Chris Dale, has advised Amber Cars on the deal with Veezu Ltd.

Andy Pennock, managing director at Amber Cars, will remain in the business post sale and form part of the Veezu board. He will be instrumental in helping to integrate the two businesses and to work alongside the Veezu management team.

Andy Pennock, managing director Amber Cars said: “This is an immensely exciting day for Amber Cars. Veezu is a large and established UK operator who share our focus on investing in new technology to raise the bar and create a ‘best-in-class’ offering for all B2C and B2B customers. It’s business as usual for all our valued existing and new customers.”

Paul Ragan, chief executive officer at Veezu added: “The acquisition of Amber Cars is part of our growth strategy to launch six regional hubs across the UK. Amber Cars is an extremely professional and successful business and is a perfect match to our current portfolio.

“We are looking forward to working with the team at Amber Cars and their customers to provide the very best service across Yorkshire.”

Rob Burton, corporate finance partner at Mazars said: “Mazars has worked with Amber Cars for a long time and we are delighted to support them with this deal. The acquisition by Veezu is a positive move for them and we wish them well with the integration of the business.”

Advisors for the deal were Rob Burton, corporate finance partner, and Chris Dale of Mazars, with legal advice provided by corporate partner Christian Hunt and Alex Birch from Langleys in York.