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Carlyle Said to Meet Advisers for Sale of Addison Lee

A pedestrian passes an Addison Lee Plc logo outside a parking lot for the company's minicabs in London. Carlyle, the second-biggest manager of alternative assets such as private-equity funds and real estate, bought the taxi operator in April last year. Photographer: Chris Ratcliffe/Bloomberg
A pedestrian passes an Addison Lee Plc logo outside a parking lot for the company's minicabs in London. Carlyle, the second-biggest manager of alternative assets such as private-equity funds and real estate, bought the taxi operator in April last year. Photographer: Chris Ratcliffe/Bloomberg

June 4 (Bloomberg) -- Carlyle Group LP has been approached by bankers about a sale of Addison Lee Ltd. a little over a year after buying the taxi firm, according to two people with knowledge of the matter.

Carlyle is considering options including an initial public offering for Addison Lee, though it hasn’t made a decision yet and may choose to keep the business, said the people, who asked not to be named because the details aren’t public.

Carlyle, the second-biggest manager of alternative assets such as private-equity funds and real estate, bought the taxi operator in April last year. Funds typically retain investments for five to seven years. Investor demand for consumer companies has helped companies in London raise $11 billion this year, the most since 2009, data compiled by Bloomberg show.

Officials at Carlyle and Addison Lee declined to comment.

Addison Lee was started in 1975 by John Griffin in London’s Battersea neighborhood with a single car, according to its website. The company now calls itself London’s largest private-taxi service and carries 10 million passengers and couriers 1 million deliveries a year.

To contact the reporters on this story: Kiel Porter in London at kporter17@bloomberg.net; Ruth David in London at rdavid9@bloomberg.net

To contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net Jon Menon, Keith Campbell

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