Singapore group behind wheel at Addison Lee after £269m takeover

Addison Lee, the London premium private hire, courier and black taxi provider, has been sold to a Singapore-based transport group for £269.1 million, which is set to bring its services to cities outside the capital.
ComfortDelGro provides transport services from taxis to rail networks across 12 countries spanning Malaysia, Australia and China to France, Spain and Portugal. It is listed on the Singapore Exchange.
Addison Lee is being acquired by CityFleet Networks, ComfortDelGro’s wholly-owned subsidiary which provides taxi and private hire car services throughout the UK.
Once the deal is completed, Addison Lee’s 7,500 drivers and 5,000 vehicles will complement CityFleet Networks’ existing private hire and black taxi fleets elsewhere in the UK, the company added.
ComfortDelGro also operates the Metroline buses and Westbus coaches in London, Adventure Travel buses and coaches in south Wales and the Megabus, Scottish Citylink and Irish Citylink intercity coach services.
It was reported earlier this year that Cheyne Capital and Liam Griffin, the son of Addison Lee’s founder John Griffin, were working on a sale of the business after they regained control in 2020 from the previous owner, Carlisle Group, the private equity investor.
Carlisle acquired Addison Lee from the Griffin family in 2013 for a reported £300 million but had struggled with the business.
After Griffin and Cheyne Capital took over they made a series of acquisitions including London black cab operator, ComCab, and Green Tomato Cars, a London private-hire rival. The company has also been aiming to make its standard passenger fleet all-electric and has been rolling out Volkswagen electric cars and vans.
ComfortDelGro said that the company’s existing management team — which includes Griffin, 51, who serves as Addison Lee’s chief executive — will remain at the company. Griffin, who has previously raced in the British Touring Car Championship and at Le Mans, said ComfortDelGro was a “perfect fit” for the company.
“They share our philosophy, vision, and ambition for the Addison Lee brand and bring significant international industry expertise to the business,” he said.