The MBH Corporation is expanding its portfolio of investments. The London-based company reported on Monday that it has taken over 100 percent of the shares in Driven by Riide Ltd., a taxi company based in Great Britain. MBH puts the purchase price for the company at £ 3.4 million. On an eleven-month basis as of April 30, 2020, Driven by Riide achieved sales of 3.9 million pounds sterling and an EBITDA of 0.8 million pounds sterling.
“Driven by Riide Ltd. was founded in 2002 and owns 150 vehicles and employs 600 drivers. The fleet is completely cloud-based and 70% of the bookings are made via a customer app developed in-house ”, says MBH about the new subsidiary. In addition to the areas of construction services, education, leisure, health and engineering services, Driven by Riide is being set up as the sixth business segment in which it will be active in the transport segment.
At a glance – chart and news: MBH Corporation