A multi-million pound Stoke-on-Trent taxi business has been acquired by a global investment firm.
MBH Corporation plc has taken over Intercity Taxis in what is its fourth acquisition of the year – and its 26th in total.
Intercity Taxis, which is based in Town Road, Hanley, boasts a 120-strong fleet of vehicles and more than 150 drivers.
Its largest account is Staffordshire County Council and numerous other local authorities use the company to provide school run services.
During the pandemic, Intercity introduced the iCabbi system which allows customers to book a taxi in a number of different ways through an app, web, IVR (interactive voice response) and call handlers.
For the year end May 2020, it generated £2.1 million in revenue.
The deal – which is estimated to be worth between £3 million and £4 million – will see Intercity reside under Take Me (formerly ADT Taxis) within MBH’s transport division.
David Hunter, CEO at 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 at MBH Corporation plc, 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.”