The Carlyle Group has made a significant investment in Addison Lee, a provider of transportation services. Capital for this investment will come from Carlyle Europe Partners III L.P., a €5.4 billion fund that makes mid and large cap investments.
Addison Lee is a provider of transportation and private hire services in London and the South East of England. Using its fleet of 4,500 vehicles, the company carries over 10 million passengers and makes over 1 million courier deliveries per year. Addison Lee was founded in 1975 and is based in London (www.addisonlee.com).
The focus for Carlyle’s investment in Addison Lee will be to drive business expansion both in the UK and internationally by providing transport services to a wider range of blue chip corporates and individual customers. This will be achieved by enhancing customers’ access to the company’s fleet and new innovations in the company’s technology platforms.
“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,” said Andrew Burgess, Managing Director of Carlyle Europe Partners.
Carlyle was advised on the transaction by Deloitte, OC&C and Latham & Watkins. Addison Lee was advised by Catalyst Corporate Finance and Joelson Wilson.
The Carlyle Group invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. The Carlyle Group employs 1,400 people in 33 offices across six continents and is based in Washington, DC (www.carlyle.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-22-13
