The leading taxi company in the Nordics, Swedish Cabonline announced today that it acquired Finnish taxi companies Kovanen and Mankkaan Taksi. With this acquisition Cabonline will get access to the Finnish taxi market and the opportunity to strengthen its position as a leading digital service provider in the area of transportation in Nordic region.
Kovanen and Mankkaan Taksi have a strong position in both the private and corporate markets in the Finnish capital region and their total turnover in 2016 was approximately 240 MSEK (25M euros).
“The acquisition of Kovanen and Mankkaan Taksi is in line with our strategy of continued expansion in the Nordic region, and I am very proud that we are now entering the Finnish market. This is a unique opportunity for us to build on the experiences we have got from the Swedish and Norwegian markets and we are really looking forward to digitalize and develop the Finnish transportation market,” says Thomas Ekman, CEO Cabonline Group.
This acquisition makes Cabonline the largest taxi company in Finland. The new company is expected to have a turnover of approximately EUR 30 million, employ approximately 550 people and operate in Finland under Kovanen’s name. The company released Kovanen mobile app in June, that allows its customers to order taxi service on mobile in seconds.
“Our family business secret of success has always been quality, and it is the most important indicator also in the future.” commented Kovanen’s President and CEO Heikki Kovanen.