TBR Global Chauffeuring, a Glasgow-based provider of premium services, has been sold to San Francisco-based international ride-hailing company Lyft for £83 million.
TBR operates across six continents, 120 countries and more than 3,000 cities, delivering premium ground transportation services for Fortune 500 companies, investment banks, and major global events.
The acquisition, which closed on 15 October, will enable Lyft to expand its presence in the premium chauffeur market, combining its technology platform with TBR’s service.
A cross-border team at Dentons advised TBR, led by Scotland based corporate partner Brian Moore, who said: “We are pleased to have supported the team at TBR Global Chauffeuring on this significant cross-border transaction.”
Additional support was provided by Japanese law firm Mori Hamada & Matsumoto.
Executive chairman Michael O’Hare set up TBR in 1991, focusing on financial roadshows and corporate events.
The acquisition will not impact Lyft’s Q3 financial results.
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