Acquisitive investment company MBH Corporation has acquired a second UK taxi operation. The group has bought Victoria Gosden Travel Limited (VGT) for a price between £1.3million and £2m. VGT joins ADT Taxis within the group’s transport division, which is aiming to build a national network under the Take Me brand.
VGT is MBH Corporation’s 12th acquisition of 2020 across a variety of industries and the fourth in the past six weeks. Founded in 2002 with just one vehicle, Farnborough-based VGT is a taxi and licensed private hire operator covering the Waverly, Hart and Rushmoor areas of south-east England. It now has a fleet of 100 vehicles, and in the 2020financial year, VGT’s underlying profit) was £278,545 with assets of £1.18m.
VGT managing director Gary Marshall, who has more than 30 years of experience in the taxi industry and 16 years as a software supplier to the taxi industry, is remaining with the business. He said: “This is a fantastic opportunity for us. We have spent the past seven 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.”
Take Me Group chief executive David Hunter said: “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, Frankfurt-listed MBH’s chief executive added: “VGT has been a reliable and well-respected business for nearly two decades and it will be great to have Gary joining our team. 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.”