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UK Courier Absolutely Sells Passenger Transport Business
Thursday 12 October 2017

12 October 2017 - UK-based courier company Absolutely has sold its Passenger Transport Division, operated under the Absolutely and Creative Cars brands, to Excel Executive for an undisclosed sum, the company said.
The board of directors has decided to accept an unsolicited offer from Excel Executive to purchase the Passenger transport division of Absolutely.
Excel Executive is a large and established, London based, private car hire company, which specialises in business transport, chauffer services, airport transfers. Excel, like Absolutely, also focuses on supporting the TV and film industry.
The managing director, Gregory Hoy, having sold his courier business a year ago is now focusing on passenger cars. He is committed to the continued development of innovative, new software for the fast-changing passenger car market.
In accordance with TUPE regulations employees of the company's Passenger Transport Division will automatically transfer across to Excel and a consultation process will commence shortly.
Absolutely is a family run business with a heritage stretching back to 1865. Across its courier operations, the company employs c.100 people from three London locations. Absolutely now comprises over 250 couriers and more than 5000 corporate accounts ranging from well-known fashion brands to law firms.
Excel Group Services was founded in 1992 and originally operated as a courier company, it was actually the first company in the UK to offer its corporate clients online booking.
In 2007 based on customer demand the company took on a fleet of executive cars. In 2016 the courier side of the business was sold enabling the directors and management team to form Excel Executive Ltd.
Date Published: 12/10/2017
Target: Absolutely/Passenger Transport Division
Country: UK
Sector: Road Transport/Freight Transport
Type: Divestment
Status: Closed
Vendor: Absolutely
Buyer: Excel Executive
Terms of the deal were not disclosed