Addison Lee has acquired Flyte Tyme’s $ 65m. business to become world’s largest FHV company

Addison Lee has acquired Flyte Tyme’s $ 65m. business to become world’s largest FHV company

Addison Lee is now set to become the first truly global provider of executive ground transportation, LCT writes. Addison Lee’s acquisition of Flyte Tyme Worldwide Transportation and Flyte Line Transportation has created the world’s leading executive car service. The acquisition will strengthen the Addison Lee Group’s established North American business – bringing combined North American annual revenue to in excess of $100m – and bolster its position as the leading provider of managed ground transport services globally.

This latest addition to the Addison Lee Group and follows the acquisition of executive car service company Tristar Worldwide last June. 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”.

Founded in 1979, Flyte Tyme is based in Mahwah, New Jersey and has a turnover of $65m. Flyte Tyme has 525 staff including 375 chauffeurs. The company has a long established reputation for the highest customer service standards and reliability, and it has won numerous industry awards. Flyte Tyme is the USA’s fourth largest operator of executive cars, and will bring to Addison Lee Group’s US portfolio airport transfers, events transport services, shuttle services and black car operations. After the acquisition, Addison Lee Group’s combined US fleet will have over 400 premium vehicles in North America, as well as over 17,000 executive cars through affiliate partners.

Addison Lee Group’s North American businesses will be run by Flyte Tyme Worldwide Transportation Chief Executive Officer, Timothy P. Rose. Rose, who will serve as CEO of Addison Lee North America, says: “We feel that Addison Lee and Flyte Tyme are a perfect match, since both firms strive to provide and deliver the highest quality ground transportation in their respective marketplaces. Through this acquisition, we will be able to leverage our combined technology and client service capabilities to deliver a truly global service for our clients.”

The Flyte Tyme 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.

Addison Lee Chief Executive Officer, Andy Boland says: “Our customers value our combination of the highest quality executive services with seamless, modern booking platforms. With the acquisition of Flyte Tyme, Addison Lee Group becomes the world’s leading provider of executive car services so that our global customers can take advantage of our quality, reliability and service almost anywhere in the world they want to book a car”.

Some background on both companies: Founded in Battersea in 1975, Addison Lee is Europe’s largest private hire car service company. Addison Lee is trusted by its customers to provide an exceptional service through innovative technology combined with stand- out service from experienced driver and customer service teams 99% on-time record across 10 million journeys per year. The vast majority of our customers rate Addison Lee 5 out of 5 for passenger experience. Support is always available by phone, email and social media. Customers can book by app, phone and web, and can book in advance.

Addison Lee drivers are handpicked; only 1 in 4 meet the rigorous selection standards. Frequent customers enjoy priority service and membership of our customer loyalty programme, ClubLee. Customers also benefit from off peak fares which is 30% less from typical peak pricing.

About Flyte Tyme: Flyte Tyme Worldwide Transportation, headquartered in Mahwah, N.J., with offices in New York City, Princeton, Stamford CT, Los Angeles CA and San Francisco CA, operates 425 vehicles throughout the Flyte Tyme Service Area of NY, NJ, CT, PA and California. Flyte Tyme is the 6th largest global ground transportation provider and has a network of affiliate service providers in more than 350 cities worldwide.

  • Addison Lee acquires Flyte Tyme in US to create world’s largest FHV company.

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