Strategic acquisition of Black & White Cabs (BWC) transforms P2P Transport (P2P) into one of Australia’s leading passenger transport businesses and delivers a true alternative to current legacy platforms and app only business models.
The acquisition brings the total number of vehicles on the P2P platform to 2,500 with operations in nearly all states. P2P will rollout BWC’s technology platform into the existing P2P fleet.
Managing Director of P2P Tom Varga said: “This is a significant milestone for P2P positioning the business to become Australia’s leading vertically integrated passenger transport fleet manager.”
“It marks an important step in the Australian market’s transition from the slow and cumbersome legacy technology and platforms that have operated for decades and gives P2P a technology enabled platform that delivers innovation, improved service and a sustainable competitive advantage.”
“The combined business will deliver a passenger transport solution that will be competitively priced and delivers a range of new innovations for passengers, a superior alternative dispatch platform to fleet operators and increased income for drivers that to date has not existed in the Australian market.”
Matthew Reynolds, Chairman of P2P, said “Combining BWC’s industry leading dispatch technology and passenger booking app with the operational capabilities of P2P Transport’s fleet on the eastern seaboard is expected to give passengers a superior experience and increase the earnings of drivers.”
Following completion of the transaction current Managing Director of BWC, Greg Webb, will join the Board of P2P, strengthening the team as an executive director.