London Chauffeur and Private Hire firm, Addison Lee has begun 2017 with an announcement of a major expansion of its North American operations.
The company has revealed it has purchased Flyte Tyme Worldwide Transportation and Flyte Line Transportation bringing its combined revenue for its U.S operations to more than $100m.
Flyte Tyme, founded in 1979, is the USA’s fourth largest operator of executive cars and has a turnover of $65m. It has 525 staff including 375 chauffeurs. The combined Addison Lee Group will operate across North America, Europe and Asia, and have a total turnover of nearly £400M (US$500m].
Addison Lee Chief Executive Officer, Andy Boland says: “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”.
The acquisition is the latest step in Addison Lee’s global growth strategy. Earlier in the year, Addison Lee, which is owned by US private equity firm The Carlyle Group, acquired executive car service Tristar Worldwide which operates in 80 countries across the globe. Addison Lee has also expanded its operations to cities around the UK which are now bookable on the Addison Lee app.
Addison Lee Group will now have a particularly strong presence in New York City, which has the world’s second largest corporate ground transportation market worth $1.5bn, where its brings together existing Addison Lee car services with Flyte Tyme operations and Tristar’s award-winning chauffeured limousine service.
