ABSOLUTELY, one of the UK’s longest established courier companies, has today announced the sale of its passenger transport division, operated under the Absolutely and Creative Cars brands, to Excel Executive for an undisclosed sum.
Excel Executive is a large London-based, private car hire company, specialising in business transport, chauffeur services and airport transfers. It has a wealth of experience in the sector and also provides services to the TV and film industry, placing it in an ideal position to support Absolutely’s existing clientele in this field.
In accordance with TUPE (Transfer of Undertakings, Protection of Employment) regulations, employees of the company’s passenger transport division will automatically transfer across to Excel and a consultation process will commence shortly.
Gregory Hoy, managing director of Excel Executive says he is committed to the continued development of innovative, new software for the fast-changing passenger car market. Speaking shortly after the purchase was announced, he said:
We are delighted to be acquiring the passenger transport division of Absolutely. As a specialist provider of chauffeur and passenger transport services, we are committed to upholding the same high standards of service as Absolutely. This acquisition will enable us to immediately up-scale our operations to compete more effectively and win new business with large clients in London.
Commenting on the transaction, Jeremy Thompson, managing director of Absolutely said: “The decision to divest our interests in the passenger transport business will enable us to focus our efforts on growing our very successful B2B courier business. Excel Executive has a wealth of experience and expertise in the passenger car market, is investing heavily in its operations and therefore is an ideal purchaser for this part of our group.”