Preparing For A Sale That Can’t Come Soon Enough For Its Key Owner, Addison Lee Makes Client-Facing Changes

Corporate buyers who use Addison Lee are getting nervous. One of the largest chauffeured car companies in the United States has made a number of changes to improve its competitiveness and attract investors. The U.K.-based transport firm’s majority owner, Carlyle, is looking to sell. Addison Lee has a lot of debt coming due soon.

Among other recent moves, Addison Lee this month will lay off 21 employees in Los Angeles, according to a regulatory filing. Sources said the company all but shuttered its California operation. It plans instead to “farm out” rides to affiliates . . .

The full content is available to subscribers

Jay Campbell

Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them with Business Travel News. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.

Comments

avatar
  Subscribe  
Notify of