Azets acted as lead corporate finance advisor to the CityFleet management team, managing the transaction to a successful conclusion.

ComfortDelGro Corporation Limited’s wholly-owned subsidiary CityFleet Networks has acquired CMAC Group, a UK-based ground transport management and accommodation network specialist for £80.2 million ($135.4m).

Azets acted as lead corporate finance advisor to the CityFleet management team, managing the transaction to a successful conclusion.

CMAC has an extensive network of approved and certified suppliers to provide around the-clock specialised pre-planned and on-demand emergency passenger transport and accommodation solutions to businesses in the rail, travel, healthcare, corporate and public sectors. Its operations cover the United Kingdom, France, Spain, Portugal, Greece and the Netherlands, managing disruptions and journeys for close to three million travellers annually on behalf of airlines, ground handlers, train operators, and companies. Through its Suntransfers brand, CMAC also manages private and ride-share transfers to over 500 airports, bus and train stations, and ports worldwide.

With the acquisition of CMAC Group, ComfortDelGro now provides mobility services in 12 countries worldwide.

Francesca Bailey, Corporate Finance Associate Director as Azets, commented,

“We are delighted for CFN and CMAC.The acquisition marks the start of a strong partnership with an exciting future ahead. It was a pleasure to work with the CFN team and we wish them every success.”

Rakesh Jattan, Director Cityfleet Networks Group, commented,

“We are delighted to be welcoming CMAC into the ComfortDelGro family. Azets advised us from start to finish of the deal process. Thank you for your expertise, advice, and input, we couldn’t have done it without you!”

ComfortDelGro’s Managing Director / Group CEO, Mr Cheng Siak Kian said,

“This acquisition is aligned with ComfortDelGro’s strategy to expand our point-to-point mobility services and offerings. As an established player in providing wide-ranging emergency passenger transport services to businesses, CMAC is complementary to our operations in the UK and Europe, allowing us to expand our business-to-business offerings in the region. In addition, as part of the wider ComfortDelGro Group, CMAC will be able to tap into our deep market knowledge to grow its business and reach.”