Posted Monday 10th July 2023
Joelson, the leading London law firm, has advised Addison Lee, the largest London based premium taxi and car company, on acquiring Green Tomato Cars, a rival taxi firm with one of the largest zero emissions taxi fleet comprised of only electric vehicles.
The purchase of Green Tomato Cars, launched in 2006, will help many of Addison Lee’s customers achieve their sustainability and net zero targets. Addison Lee serves some of the UK’s largest businesses, reaching approximately 80% of FTSE 100. Addison Lee has committed to ensuring its fleet becomes fully electric by the end of 202[3/4] so this acquisition fits in perfectly with this ambition.
The purchase also included acquiring executive car providers, Brunel and Travelhire, which will take Addison Lee fleet of vehicles to more than 7,500 vehicles in total.
Joelson has worked with Addison Lee for over 15 years and it is the second deal that Joelson has completed with Addison Lee since 2021. Joelson previously advised Addison Lee on the acquisition of Computer Cab.
Joelson’s Corporate team was led by Managing Partner, Phil Hail-Smith.
Liam Griffin, CEO of Addison Lee, said:
“I am delighted to see Green Tomato Cars, Brunel and Travelhire form part of the Addison Lee Group as it enables us to benefit from a shared focus on reliability and sustainability. We are grateful to Phil and the team at Joelson for their knowledge and expertise to guide us through this deal. It comes at a perfect time where the demand for corporate travel is increasing with more and more businesses encouraging employees to spend more time face to face in the office.”
Phil Hails-Smith, Managing Partner at Joelson, added:
“This acquisition is a sign of brilliant growth for Addison Lee and we are proud to be part of this deal. Addison Lee has been a valued client of Joelson for over 15 years and we are pleased to continue to be part of its growth journey and its industry leading focus on sustainability in the transport sector. It is always fun working with such a great, hard-working team!”
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.
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