Carlyle backs Addison Lee

Carlyle's investment in Addison Lee deal is widely reported to be worth almost £300m.

The capital injection was made via the Carlyle Europe Partners III vehicle, which closed on €5.4bn and makes mid- and large-cap investments.

The fresh funding will drive the firm's expansion in the UK and internationally, by expanding the firm's blue chip corporate and individual customer base. The company's proprietary technology platforms and brand will be developed under the GP's ownership.

The company's founders will retain a minority stake in the firm.

Financing to support the transaction was arranged by joint global coordinators HSBC and ING alongside Barclays and BNP Paribas.

Company
Founded in 1975 and based in London, Addison Lee manages a fleet of more than 4,500 vehicles. The firm supplies private hire services and couriering deliveries, carrying in excess of 10 million passengers and 1 million packages per year.

People
Andrew Burgess is managing director of Carlyle Europe Partners.

Advisers
Equity – Deloitte (Corporate finance); OC&C (Commercial due diligence); Latham & Watkins (Legal); Sciowa Consulting (M&A); HSBC (M&A); ING (M&A).
Company – Catalyst Corporate Finance (Corporate finance); Joelson Wilson (Legal).

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• UK / Ireland
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