Southampton-based taxi operator Cab My Ride has made its second acquisition of 2022, acquiring local competitor Millers Taxi for a six-figure sum.
Millers Taxi is a well-known operator in the Eastleigh, Fareham and Winchester area, running a fleet of 70 vehicles. The company offers a high-quality service, including local and airport transfers, but was left in a vulnerable position due to the Covid-19 pandemic, said Cab My Ride director Arjan Sahota.
“Cab My Ride has successfully acquired the service and has integrated it into our platform,” Sahota said. The deal takes Cab My Ride’s fleet to more than 300. In January 2022 it bought another Hampshire operator, Bitterne Cars.
Cab My Ride provides on-demand transport services to customers across the South of England and now can extend this offering to customers in rural areas where typically it would be difficult to get a taxi.
In particular, the Millers deal adds 13 MPVs to the Cab My Ride fleet, something which is rare to get in the city at the moment, said Sahota.
Millers’ former owner Timothy Miller said: “I am excited to retire and relax from the industry. All the team are excited to move over and open the business to new opportunities”
Following the acquisition, the Eastleigh operations will benefit from the expertise of a bigger team, with more resources and capital to invest in technology, customer service and the number of cars.
Cab My Ride has retained all current staff at Millers and is looking to expand its team by 5 members of staff, which will allow them to develop its clear vision as an innovative new player within the marketplace.
Sahota said: “There’s an exciting time coming for Cab My Ride, as we continue to expand our business throughout the South Coast. This acquisition allows us to open up to a new market and grow our ability to serve thousands of customers with reliable transport.”