Glasgow-based premium transportation services provider TBR Global Chauffeuring has been acquired by San Francisco ride booking company Lyft for £83 million.

The deal was made in cash, with additional contingent costs expected in the acquisition.

The acquisition will see Lyft’s technology stack – which enables users to book rides with contracted drivers – with TBR’s service and fleet of independent, professional chauffeurs. TBR’s network of drivers will contribute their expertise in executive, event, and corporate transport.

TBR currently operates across 120 countries and over 3,000 cities, and is a provider of premium ground transportation services for corporate and executive travel, and major global events.

US company Lyft has 23.7 million customers as of 2024; though its user base is mainly concentrated in North America, it expanded into Europe with the acquisition of the Free Now app.

“We are pleased to have supported the team at TBR Global Chauffeuring on this significant cross-border transaction,” Brian Moore, who lead Dentons, the team that advised TBR in the acquisition, said.

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The transaction was agreed on 15 October, with additional support from Mori Hamada and Matsumoto, a Japanese law firm.

TBR was founded in 1991 by Michael O’Hare, who serves as executive chairman. The firm initially focused on corporate events and finance roadshows.

TBR’s leadership team and brand will remain the same following the acquisition.

Lyft’s third quarter revenue will not be impacted by the deal.