ComfortDelGro subsidiary acquires UK CMAC Group for S$135.4M

SINGAPORE: CityFleet Networks, ComfortDelGro subsidiary, acquires UK CMAC Group for S$135.4 million (GBP 80.2 million), Singapore Business Review reports.

With this acquisition, ComfortDelGro now extends its reach into 12 countries across the globe, solidifying its position in the mobility services sector.

CMAC Group, known for its expertise in managing ground transport and accommodation networks, operates in various European countries, including the United Kingdom, France, Spain, Portugal, Greece, and the Netherlands.

Annually, CMAC assists approximately three million travellers, ensuring smooth journeys and managing disruptions on behalf of airlines, ground handlers, train operators, and corporations.

CMAC’s Suntransfers brand further enhances its portfolio by providing private and ride-share transfers to more than 500 airports, bus and train stations, and ports globally.

Mark Greaves, Chairman of ComfortDelGro, expressed his enthusiasm about the acquisition, highlighting its strategic advantages. He stated:

“The acquisition of CMAC means we not only achieve a meaningful expansion of our footprint in the UK and entry into several new countries in Europe but also acquire an extensive network of transport operators, strengthening our point-to-point transport solutions as well as growing our customer base.”

As of 2:05 p.m. SGT, ComfortDelGro’s shares are experiencing a slight decrease, trading 1 cent lower or 0.71% down at S$1.39. /TISG

Read also: Buy call on ComfortDelGro by Maybank Securities analyst Eric Ong