Mobility technology company Kaptyn Acquisition Corp. filed Monday to acquire a handful of taxicab companies in Las Vegas for an undisclosed amount.
Kaptyn would acquire ownership of Desert Cab Co. and ODS Chauffeured Transportation, owned by the Balaban family, and Whittlesea-Bell Transportation, owned by the Bell family. Whittlesea-Bell comprises Whittlesea Blue Cab, Henderson Taxi, Bell Limousine, Bell Trans and Presidential Limousine.
Earlier this year, the two companies formed partnership called Blue Desert LLC and purchased ownership of Virgin Valley Cab from Frias Transportation.
The Bell and Balaban families will keep minority ownership of their respective companies under the proposed deal. Terms of the deal were not revealed Monday.
The deal is dependent upon approval of the Nevada Transportation and Taxicab authorities.
Kaptyn is a “smart taxi technology” company with offices in New York and Florida and an expanding portfolio of contracts in major cities including Las Vegas. It has been working with Whittlesea-Bell and Desert Cab, providing smart meters for their taxicabs.
Kaptyn’s management team will lead new sales, marketing and technology initiatives, while the existing management from Whittlesea-Bell and Desert Cab will operate and manage the fleets.
The intention of the deal is to increase the demand for ridership, according to the Kaptyn web post.
All employees and drivers will have to reapply for jobs ahead of the acquisition, but Kaptyn plans to hire back all drivers and keep seniority under the leadership, according to a post on its website. New positions in sales, marketing, IT and accounting will be created with the acquisition.