Addison Lee is the biggest taxi firm in London with over 10 million passengers a year. They are now heading for global expansion and are doing so as they have now sold a majority stake to the Carlyle Group.
Their plans are to expand to New York and Paris which is great news for the firm as 40 years ago there was only one vehicle in Battersea. They have managed to create there huge success through using the latest technologies to manage bookings for a fleet with over 4,500 vehicles and is one of the major competitors for London black cabs. Drivers for this company will have few worries, with an established name, a founder who truly cares about their drivers and regular passengers from many corporate companies behind them, income shouldn’t be too much of an issue. This means that paying for things such as maintenance and private hire insurance is slightly easier than those who work for smaller companies.
John Griffin is the founder of the taxi empire now worth £300 million and even though he has just sold a majority stake, he will remain as chairman. He says, “I was a driver and I have never forgotten how badly I was treated by the companies I worked for – when you walked into the office it was like a piece of dirt walked in. I turn that around and I introduce the driver to my staff here as their employer because without him, we haven’t got a job.”
John Griffin’s son Liam has said, “We are delighted to welcome Carlyle to the Addison Lee family. From humble beginnings almost 40 years ago, Addison Lee has grown to become a well-known brand, valued for its customer service and innovative technology alike. We are excited about this investment, which provides the endorsement and backing of one of the world’s largest investment firms and provides a platform for Addison Lee’s continues future growth.”
Even though the business has dramatically grown over the years the company still remains very family orientated with Griffin and his late business partners children heavily involved.
Andrew Burgess is the managing director at Carlyle Europe Partners and he has said, “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.”