Posted: 21/05/2013
Appleby, one of the world's largest providers of offshore legal services, has acted as Guernsey counsel for The Carlyle Group L.P, in relation to a significant investment into private hire and transport provider, Addison Lee.
Addison Lee, one of the most established and well-known transportation and private hire businesses in London and the south-east of England was founded in 1975, and has a fleet of over 4,500 vehicles.
The investment was made by Carlyle Europe Partners III, L.P., a €5.4 billion fund that makes large and mid-cap investments throughout Europe and the UK.
Appleby provided advice to Carlyle in respect of all Guernsey elements of the transaction, including corporate due diligence and various associated regulatory issues. The Appleby team was led by Matthew Wrigley, Counsel, assisted by Chet Pohl, Senior Associate.
Commenting on the transaction, Helen Crossley, Group Partner – Corporate & Commercial, Guernsey said: “It was a pleasure working with The Carlyle Group and their other advisers on this transaction. The deal contained a number of unique elements, involved a range of stakeholders, and was conducted on an aggressive timetable. It also shows that, despite challenging macro conditions in the UK and Europe, private equity clients are continuing to transact as and when compelling investment propositions present themselves. Our view is that the current conditions should see attractive pricing for deals in Europe continue, and translate to an increase in transactional activity in Guernsey throughout the remainder of 2013.”