Knights’ Corporate team has supported the shareholders of Intercity Taxis on their sale to investment holding company MBH Corporation (MBH) for a total consideration of approximately £3-4m.
The premier taxi company has been established in Stoke-on-Trent for over 40 years and averages more than 150 drivers to a fleet of around 120 taxis. Intercity Taxis has kept pace with the latest innovations and recently embraced the iCabbi system to provide customers the flexibility to book a taxi in a number of different ways.
This deal continues MBH’s highly active acquisition drive by bringing their total portfolio to 26 companies whilst ensuring a successful succession plan for Intercity Directors and Owners, Malcolm Beardmore and Mark Beardmore.
Malcolm Beardmore commented: "I would just like to say a big thank you on behalf of Mark and myself to Lisa Bridgwood, Sophie Knapper and all involved at Knights for all their support and patience throughout this process. From the beginning we were confident we had chosen the right company to deal with the sale of our Family business and felt that Lisa and the team were there to guide us through every step of the way."
Lisa Bridgwood, Partner at Knights, said: "It was a pleasure working with Malcolm and Mark on the sale of Intercity and to assist them in realising their plans, both for themselves and for the business, after years of hard work in growing and building the business. We wish them both the best with their future plans."