London investment company acquires taxi company in multi-million pound deal
A London investment holding company has announced that it has added to its transport portfolio with its latest acquisition.
MBH Corporation has acquired Victoria Gosden Travel Limited (VGT) for approximately £1.3m to £2m in its fourth acquisition of the last six weeks, and its 12th of the year.
VGT joins ADT Taxis in MBH’s transport vertical and boosts the pro-forma revenues of MBH group companies to £104m for the financial year ending 2020.
Gary Marshall, managing director at VGT, commented: ’This is a fantastic opportunity for us. We have spent the last 7 years growing VGT to a 100 car fleet.
“Joining with MBH has allowed us to release equity in the business, remain in control of the company and remove the limiting factors allowing us to grow the business further.
“Added to this is a pool of business leaders, working together with similar aims, all wanting to drive the business forward.
“I am particularly looking forward to working with the ADT Taxis team in our shared goal to create a national taxi network.’
David Hunter, CEO at ADT, said: ’We are delighted to bring in Gary Marshall and his lovely wife Sam to the MBH Taxi network as we build the TAKE ME taxi network across the UK.
“In a hugely challenging year for our industry we’ve been able to build our company and brand by diversifying into food deliveries, building an exceptional app and through growth of school and NHS contracts.
“As we continue to grow, VGT will be an amazing addition to our brand.”
Callum Laing, CEO of MBH Corporation, added: ’This has been an incredibly productive year for us as a group.
“VGT joining our other company ADT in the transport vertical is incredibly exciting and gives us a good footing to expand the fleet further in 2021.”
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