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Dragon snapped up in taxi firm deal

Cardiff-based taxi group Dragon Taxis has been bought in a multimillion pound deal by Veezu, a Newport company run by former Cardiff Devils chairman Paul Ragan. Veezu already owns Bridgend based Radio Cabs, Dragon Taxis in Newport and Solihull based A2B Radio Cars. The business employs 1,500 drivers, and completes around 6.5m journeys a year moving in excess of 12m passengers. Veezu plans to invest in key infrastructure developments including a mobile application, interactive voice response system and cloud-based technology. The multi-million pound finance package used to buy Dragon Taxis was supported by Santander and includes £2.5m in growth capital funding. Andrew Woodgate, relationship director at Santander Corporate & Commercial, said: 'Veezu has seen rapid success due to it fully understanding its market, the service requirements and customers. The business is showing strong signs of growth in a relatively short space of time and this latest investment in new technologies is a clear indicator of Veezu's wish to provide a better experience for all of its stakeholders.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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