business

Leacy Classics seals second acquisition in weeks

Birmingham-based car parts specialist has acquired London Taxi Group, a deal which includes a fleet of 21 vehicles

David Keene, chief executive of Leacy Classics

A Birmingham-based automotive firm has completed its second acquisition in a matter of weeks.

Leacy Classics, which specialises in the classic car parts industry, has bought Milton Keynes-based London Taxi Group.

It follows the company's acquisition of Coleshill-based Min-its last month.

As a result of this latest deal, Leacy Classics will now be able to move into a new market supplying parts around the globe for use in repairing the iconic London taxis.

It now has access to a 6,000-strong parts range for multiple marques and models of the cabs and - for the first time - will be opening up these products online.

As part of the acquisition, Leacy has also purchased a fleet of 21 taxis which are ready to be restored - the earliest one is a Marque 7 Beardmore model which dates back to the 1950s.

Chief executive David Keene said: "We are delighted with the purchase. It represents a strategic move into a growing international sector and will diversify our current offering.

"London Taxi Group is a well-known brand that has a loyal customer base who are passionate about their vehicles.

"One of our key aims is to ensure the continuity of these iconic vehicles for the next generation of owners by enhancing the customer experience even further.

"We have ambitious plans to hit £10 million by 2018 and the acquisition of strong businesses like London Taxi Group will complement our organic growth.

"Twenty new jobs will be created at our dedicated Aston Lane warehouse as part of this expansion and we are already in the process of recruiting the right people."

View full mobile page