Taxelco, which was launched by XPND Capital last year, announced that it’s acquired Taxi Diamond, the biggest taxi fleet in Montreal.
Taxelco also owns Taxi Hochelaga, which operates in the east-end of Montreal, and Téo Taxi, an all-electric taxi service. The acquisition will add 1,720 vehicles to the company’s fleet, which will offer service to Montrealers under three different brands.
“A year after acquiring Taxi Hochelaga, and eight months after launching Téo Taxi, we’ve gained key strategic knowledge and learned quite a few lessons,” said Alexandre Taillefer, senior partner at XPND Capital and Taxelco founder. “Through innovative management of our operations, we put customers first while at the same time providing a favourable work environment for our taxi drivers.”
Taxelco was launched to “consolidate the interests of the taxi industry to the benefit of its stakeholders and for the citizens of Montreal,” the company says on its website.
Taxi Diamond’s management team will remain in place. Like Taxi Hochelaga, Taxi Diamond will retain its agency model and drivers will continue to be self-employed. Taxi Diamond’s service code will be improved and standardized with Taxelco’s.
“New technology and better taxi fleet management are the keys to transforming the industry,” said Marc Petit, the CEO of Taxelco. “We want to offer the owner-drivers and independent contractors who work with Taxi Hochelaga and Taxi Diamond a modern, clean, and environmentally friendly fleet so that they can provide Montrealers with consistently top notch service that is safe and efficient.”
