XPND-backed Taxelco acquires Montréal's Taxi Diamond
Taxelco, a transportation holding company founded by Canadian growth equity firm XPND Capital, has acquired Taxi Diamond, the largest taxi fleet in Montréal. No financial terms were disclosed for the deal, which will see Taxi Diamond's existing management team remain in place. Taxi Diamond will join two other Taxelco brands: Taxi Hochelaga, acquired last year; and Téo Taxi, an electric taxi service that recently secured financing from XPND. The brands currently manage a combined fleet of 1,720 vehicles. XPND is led by Managing Partner Alexandre Taillefer. The firm closed its second fund, XPNDCroissance Fund, at $75 million in March.
9 August 2016•3 mins read
