Addison Lee acquires Lewis Day private hire operation
The Lewis Day name looks set to disappear from London’s streets after the company’s passenger cars division was bought by rival London private hire giant Addison Lee for an undisclosed sum.
In a separate deal, Lewis Day founder, South African Hilton Lewis, has sold the company’s courier division to rival Citysprint. Lewis owned 70% of the business, with his management team owning the balance of the shares.
Lewis Day’s total revenues last year were £34 million and it employs 350 staff for its fleet of more than 1,800 vehicles. The courier operations also included 17 offices across the UK. The private hire and chauffeuring operations made revenues of £18m a year.
The deal is scheduled to complete in the next two weeks. Addison Lee would not reveal the value of the deal, but said it would add 10% to its annual turnover of £123m. Managing director Liam Griffin dismissed any competition implications, saying: “There are 54,000 private-hire operators and 20,000 black cabs in London. We only have 3,500 of those.”
The takeover will add a fleet of more than 250 Toyota Prius hybrids to the Addison Lee operation, though it remains unclear whether Addison Lee will keep these or standardise the fleet around its familiar Ford Galaxy MPVs. Lewis Day was the biggest London Prius operator, having started using the hybrid cars in 2006.
Lewis Day also has some Galaxys as well as a substantial fleet of Mercedes E- and S-class chauffeur cars. It added a further 75 E220s earlier this year.