London’s biggest minicab firm Addison Lee has been put up for sale by its private equity owner, reports suggest.
Carlyle Group paid £300m for a majority stake in Addison Lee in April 2013, but has decided to start an auction process after receiving unsolicited offers for the business, according to a source close to the company, reports The Guardian.
Private equity firms BC Partners, CVC Capital and Charterhouse are among the organisations that have been invited to bid, with reports suggesting the former Fleet News Award winner could be sold for £800m.
Carlyle and Addison Lee declined to comment.
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