Addison Lee has purchased American executive car service Flyte Time, which will more than double the size of its USA business.
The acquisition will strengthen the Addison Lee Group’s established North American business – bringing combined North American annual revenue to in excess of $100m (£81.4m).
This latest addition to the Addison Lee Group and follows the acquisition of executive car service company Tristar Worldwide last June. The combined Addison Lee Group will operate across North America, Europe and Asia, and have a total turnover of nearly £400m.
Addison Lee chief executive officer, Andy Boland said: “This is an important moment for the executive car industry. Flyte Tyme has deep expertise and an extensive affiliate network in the United States. By combining Flyte Tyme’s North American presence with Tristar’s global operations and Addison Lee’s digital booking platforms, we can now truly lead the ground transportation industry providing, for the first time, global managed ground transportation services through a single platform”.
Founded in 1979, Flyte Tyme is based in Mahwah, New Jersey and has a turnover of $65m (£52.9m). Flyte Tyme has 525 staff including 375 chauffeurs, and is the USA’s fourth largest operator of executive cars, and will bring to Addison Lee Group’s US portfolio airport transfers, events transport services, shuttle services and black car operations.
After the acquisition, Addison Lee Group’s combined US fleet will have over 400 premium vehicles in North America, as well as over 17,000 executive cars through affiliate partners.
Addison Lee Group’s North American businesses will be run by Flyte Tyme Worldwide Transportation CEO Timothy P. Rose.
Rose, who will serve as CEO of Addison Lee North America, said: “We feel that Addison Lee and Flyte Tyme are a perfect match, since both firms strive to provide and deliver the highest quality ground transportation in their respective marketplaces. Through this acquisition, we will be able to leverage our combined technology and client service capabilities to deliver a truly global service for our clients.”