SINGAPORE – ComfortDelGro on Feb 13 said its wholly owned subsidiary acquired CMAC Group, a Britain-based ground transport management and accommodation network specialist, for £80.2 million (S$136 million).
The deal was funded through the group’s bank facilities.
Post-completion, CMAC will become ComfortDelGro’s indirect subsidiary, the transport operator said.
The move comes as the group looks to expand its point-to-point mobility services and offerings in the region.
CMAC provides wide-ranging emergency passenger transport services to businesses in the rail, travel, healthcare, corporate and public sectors.
It also has an extensive network of approved and certified suppliers that provide specialised pre-planned and on-demand emergency passenger transport and accommodation solutions.
Its operations cover Britain, France, Spain, Portugal, Greece and the Netherlands, where it helps manage disruptions and journeys on behalf of airlines, ground handlers, train operators and companies.
It also manages, through its Suntransfers brand, private and ride-share transfers to more than 500 airports, bus and train stations, as well as ports globally.
ComfortDelGro managing director and group chief executive Cheng Siak Kian said CMAC is complementary to the group’s operations in Britain and Europe, allowing the group to expand its business-to-business offerings in the region.
The acquisition allows CMAC to also tap the group’s deep market knowledge to grow its business and reach.
ComfortDelGro does not expect the acquisition to have any material impact on its earnings per share for the financial year ending Dec 31, 2024. Its shares closed down 0.7 per cent at $1.39 on Feb 13. THE BUSINESS TIMES
