IN VIEW
Exclusive by Ged Henderson
CMAC SET TO ‘TURBO-CHARGE’ GROWTH AFTER £80m SALE
The acquisition of Accrington based managed transport specialist CMAC Group by one of the world’s largest land transport companies will “turbo-charge” its growth, predicts chief executive Peter Slater.
Revealing the background behind the £80m-plus deal with the Singapore headquartered ComfortDelGro Corporation, he said the sale was the culmination of a decade of planning and hard work.
CMAC has made headlines in recent years through its own ambitious acquisitions, growing to £150m turnover and a 350-strong workforce, with 40 per cent of its business based outside the UK.
The company has made its name as an expert in ground travel solutions, including managing alternative transport and accommodation for airlines affected by disruption such as severe weather, strike action, national disasters and
technical and operational problems.
Today it has operations in the UK, Spain, Portugal, Greece and The Netherlands, managing journeys for close to three million travellers annually on behalf of airlines and ground handlers, train operators, corporations and consumers.
Through its Suntransfers brand, CMAC, which was founded in 2007, provides private and share-ride transfers to more than 500 airports, stations and ports worldwide.
Its acquisition, through ComfortDelGro Corporation’s wholly-owned UK subsidiary CityFleet Networks, was announced last month. CMAC will remain operationally independent and led by its current senior team, with Peter remaining in his role.
He told Lancashire Business View: “We’ve
picked the right partner, not only because of the financial fire-power it has but also because it is strong in areas and territories we aren’t.
“They’ve got an acquisition pipeline that is pretty impressive and a good team we are working closely with. We couldn’t be happier at the moment.
“All the acquisitions we have made have been self-funded, with a little bit of help from the bank. We’d been extremely successful but had more or less hit a glass ceiling and this will turbo-charge our growth.”
ComfortDelGro operates in seven countries and has a global network of about 34,000 vehicles. The company has a group annual revenue of S$3.8bn (£2.2bn) and is listed on the Singapore Stock Exchange
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