MOT1163

Leading Taxi Credit Hire Company

NW England UK
 

Leading credit hire company supplying replacement licensed vehicles across the UK to taxi drivers, taxi companies, brokers & insurance providers following non-fault accidents. Other services include recovery & storage, personal injury recommendations & repairs to vehicles.

Key Aspects:

  • Delivering national coverage for 18 years.
  • Market leader in speed & service.
  • Direct access to over 50,000 drivers via its extensive network & contracts with regional taxi firms.
  • Current debtor book of £1.8m - c80% of this is expected to be recovered.
  • Long-standing & reliable customer base - majority of customers have been with the company for 10 years or more.
  • Works with over 100 companies with new & existing contracts in place.
  • Delivers replacement taxis within 24 hours, a recovery time that cannot be matched by competitors.
  • Provides recovery & storage of clients damaged vehicle.
  • 24/7 customer support.
  • Works directly with end-users charging commercial hire rates to third party insurers via solicitor network.

    Opportunities:

    • Ability to grow an established credit hire company holding long-standing & lucrative contracts.
    • Potential to enhance existing business via new sales campaign developed to target large taxi insurers, taxi companies, brokers & repairers.
    • Recently signed contract with large insurer to provide accident services to over 6,000 drivers & also allowing the company to offer insurance products to existing customers.
    • Opportunity to work with Europe's largest taxi app company to provide accident services.
    • Opportunity to work with IPSE (Association of Independent Professionals & the Self-Employed) to offer 10,000+ Uber drivers with accident services.
       

      Potential Purchasers:

      • Business vehicle rental companies & acquisitive car hire companies seeking to move into niche sectors.
      • Vehicle replacement providers already in or seeking access to specialist sectors.
      • Claims management, fleet management & accident management companies seeking to diversify.
      • Vehicle leasing companies & lease to buy providers.
      • Motor insurers & third party insurers.
      • Large vehicle recovery & repair service providers.
         
        Year:

        2014

        Actual

        £'000

        2015

        Actual

        £'000

        2016

        Actual

        £'000

        2017

        Draft

        £'000

        Turnover1,0021,0181,1371,391
        Gross Profit:8849511,0511,271
        Adj. EBITDA *437545565772
        * Earnings before interest, tax and depreciation (non-cash item)
         
        Bids Invited