Carlyle Said to Meet Advisers for Sale of Addison LeeKiel Porter and Ruth David
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.