Cabonline announced the acquisition of Taxi 4x27 in Denmark.

Sweden M&A 02 May 2019
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Cabonline Group, a Stockholm, Sweden-based holding company providing taxi services in the Nordic countries, announced that it acquired Taxi 4x27 in Denmark.

Financial details of the deal were not disclosed.

Over a 36-month period, existing as well as newly added taxis in Denmark will be granted a reduced fixed fee, which represents the purchase price for the company. Taxi 4X27 will be gradually integrated into Cabonline Group and within six months, it will be possible to book taxis in Sweden, Norway, Denmark and Finland via the Cabonline app.

Taxi 4X27, led by Thomas RB Petersen, has operations in Copenhagen, Aarhus, Odense, Frederikshavn, Holstebro and Sønderborg. The acquisition will add 230 transporters, with a combined total of 300 taxis, to Cabonline’s franchise model, which already has operations in Sweden, Norway and Finland.

The announcement comes shortly after Cabonline acquired Taxi Västerås and its five subsidiaries. The Cabonline Group has a turnover of approximately SEK 6.2 billion and operates about 45,000 trips per day. Its owner, HIG Capital, announced that it intends to list Cabonline's shares on the stock exchange.