MBH Corporation plc (MBH), a diversified investment holding company, adds to its transport vertical with their latest acquisition of Victoria Gosden Travel Limited (VGT).
This is the latest step in a highly active year for MBH as VGT becomes the 12th acquisition of 2020 and the fourth of the last six weeks. VGT joins ADT Taxis in MBH’s transport vertical and boosts the pro-forma revenues of MBH group companies to GBP 104M for the financial year ending 2020.
VGT is a well-established taxi and licensed private hire operator covering the Waverly, Hart and Rushmoor areas of the South-East of the UK and has been operating since 2002. Over its 18 years VGT has acquired a number of other taxi firms to grow into a 100 vehicle fleet covering most aspects of passenger transport.
Gary Marshall, Managing Director, VGT, said: ‘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, ADT (Take Me (Group) Ltd), 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. Gary already has companies in our trade around him, lined up to join his Farnborough hub and we look forward to assisting them with new technology and streamlining as we grow.”
Callum Laing, CEO, MBH Corporation plc, commented: “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. VGT has been a reliable and well-respected business for nearly 2 decades and it will be great to have Gary joining our team.”