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ComfortDelGro spends £7million to acquire third largest taxi and private hire firm in Merseyside
ComfortDelGro Corporation has announced its expansion in the United Kingdom through a £7million acquisition of the third largest taxi and private hire operator in the Liverpool City Region.
The purchase of Argyle Satellite Ltd and Argyle Satellite Contract Services Ltd (collectively known as AST) will be conducted through the Group’s wholly-owned subsidiary, CityFleet Networks Limited.
AST, which manages more than 700 self-employed drivers on its circuit and handles about 200 active corporate accounts, will complement CityFleet’s existing 400-strong taxi operation in Liverpool.
ComfortDelGro Managing Director/Group CEO, Mr Yang Ban Seng, said: “This acquisition is line with our intention to grow our operations in the UK outside of London.
“It will expand, synergise and consolidate our position as the leading point-to-point passenger transport operator in Liverpool through an expansion of the customer base and driver pool.”
Besides taxi and private hire operations in Liverpool, the Group operates a fleet of about 3,000 radio taxis in London and Aberdeen.
In the lead-up to the purchase, Argyle Satellite has seen success after its foundation in 2017, overseeing a 40% growth in fleet size over the last three years, servicing 4million journeys in the process.
Argyle Satellite sources say they will continue to provide the best possible service under the new ownership, with the aim to enhance its reputation as the Wirral’s 'largest and most trusted' taxi company.
Karen Long, CityFleet Networks' General Manager in the North West, said: ”This deal between CityFleet Networks and Argyle Satellite presents us with a strong brand, a robust business, and a great opportunity to grow and invest in an area that is very close to our hearts, having already acquired Mersey Cabs, which is now ComCab Liverpool. I joined the company almost 30 years ago, CityFleet Networks acquired MerseyCabs in 2008 and so I have also seen first-hand the benefits that a merger can have on a company in this sector.”
Chris Jordan, former Director at Argyle Satellite Taxis, added: “CityFleet has ambitious plans to continue improving the taxi experience for its customers and drivers in the North West. I'm sure they will prove to be the perfect stewards to take Argyle Satellite to the next level. Karen and the team at CityFleet are 100% committed to upholding Argyle’s proud tradition and working with our dedicated staff and management to take the business forward as we enter into this new era.”
Image credit (Vito Taxi): Ross Campbell
