CityFleet Networks Ltd ('CityFleet') has entered into an Asset Purchase Agreement (“Agreement”) to acquire the business and certain assets of Dial-a-Cab Limited (“Dial-a-Cab”).
Dial-a-Cab is a taxi circuit operator in London with around 1,100 self-employed Black Cab drivers on its circuit. Dial-a-Cab’s business is similar to CityFleet’s wholly-owned subsidiaries Computer Cab plc, Computer Cab (Liverpool) Limited and Computer Cab (Aberdeen) Limited which operate taxi dispatch services in London, Liverpool and Aberdeen respectively.
With a fleet of 1,100 licensed taxis, Dial-a-Cab is one of the largest remaining licensed Taxi circuits in London. The merger with CityFleet, which operates its existing London licensed Taxi company under the ComCab brand (with 1,900 licensed Taxis), will create a combined fleet which will be by far the largest Taxi circuit in London.
The acquisition will enable CityFleet to grow and strengthen its position as the leading taxi circuit operator in London through an expansion of customer base and an increase in subscribing drivers, and at the same time achieve cost synergies by consolidating the back end operations of Dial-a-Cab and Computer Cab plc.
As a testimony to the quality of service being provided by Computer Cab plc and its drivers, London Councils and Transport for London (TfL) have also recently renewed the London Taxicard and Dial-a-Ride contract with CityFleet for another three years, with an option for a fourth.
Taxicard is the largest public sector day-to-day transport service in London for passengers with serious mobility impairment or who are severely sight impaired. The contract covers all 32 London boroughs and the City of London. CityFleet has, through its taxi subsidiary Computer Cab plc held this contract over several decades.
Mr Jaspal Singh, CEO of CityFleet Networks Ltd said ‘We are very pleased to welcome Dial-a-Cab to CityFleet. Combined with Computer Cab plc, our Licensed Taxi service offering will be enhanced considerably, providing even greater coverage to users and help us to bolster our standing as one of the leading ground transport providers to the corporate market.’ He added ‘It further cements our commitment to the Black Taxi trade'.
Mr Brian Rice, Chairman of Dial-a-Cab said ‘I am delighted that we have found the perfect partner in CityFleet. The merger will help secure the future of the drivers on our respective circuits which in turn benefits all Londoners due to the professionalism, knowledge and safety record of the drivers on our circuits"
ComfortDelGro Corporation Ltd is one of the world’s largest specialist ground transport operations. ComfortDelGro operates Bus, Coach, Taxi and rail operations in the UK, Ireland, Singapore, China, Malaysia, Vietnam and Australia.
CityFleet operates ComCab, which has the largest Licensed Black Cab circuit in London, Liverpool and Aberdeen.
In addition to CityFleet owned fleets, the CityFleet Business brand is recognised as one of the leading ground transport providers to the UK corporate market giving users access to all forms of ground transportation services in the UK and globally via telephone, web and mobile app booking systems.
Dial-a-Cab, which was formed in 1953, has over 1,100 taxis on its Taxi circuits and serves a range of corporate and public sector customers across London. It is owned by drivers on the Dial-a-Cab Taxi circuit.
Registered Office: CityFleet Networks Limited, c/o Computer Cab (Aberdeen) Ltd, Burnside Drive, Dyce, Aberdeen, Scotland, AB21 0HW Registration No. SC221290
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