Member Article

US firm invest in Addison Lee

US private equity firm, The Carlyle Group, have invested in London taxi firm Addison Lee.

Carlyle will invest to drive expansion, both in the UK and internationally, of Addison Lee’s private hire services.

Liam Griffin, managing director of Addison Lee, said: “We are delighted to welcome Carlyle to the Addison Lee family. From humble beginnings almost 40 years ago, Addison Lee has grown to become a well-known brand, valued for its customer service and innovative technology alike.

“We are excited about this investment, which provides the endorsement and backing of one of the world’s largest investment firms and provides a platform for Addison Lee’s continued future growth.”

Andrew Burgess, managing director of Carlyle Europe Partners added: “Addison Lee is a strong business and brand with great potential. As experienced investors in the automotive and transportation sector through companies such as Applus+, Hertz and RAC, we hope Carlyle’s experience and expertise will allow us to support the plans to continue growing the business both in the UK and internationally and to create value.”

Capital for the investment will come from Carlyle Europe Partners III L.P, a €5.4bn fund that makes mid and large cap investments.

This was posted in Bdaily's Members' News section by Tom Keighley .