Addison Lee expands executive car service with Flyte Tyme acquisition
Addison Lee has acquired US chauffeur business Flyte Tyme for $65m in line with its plans for global growth.
The acquisition will strengthen the Addison Lee Group’s established North American business – bringing combined North American annual revenue to in excess of $100m – and comes as the firm looks to bolster its battle against Uber.
Founded in 1979, Flyte Tyme is based in Mahwah, New Jersey and has 525 staff including 375 chauffeurs.
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.
The latest addition follows the acquisition of executive car service company Tristar Worldwide last June.
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.”