London taxi operator Addison Lee buys rival Cyclone VIP Cars & Couriers-Reuters

(Reuters) – Carlyle Group LP-owned London taxi operator Addison Lee said it has bought rival Cyclone VIP Cars & Couriers.

The company said buyout of Cyclone, which was formed in 1985 and has about 100 drivers, would strengthen its position in the London private-hire market.

No financial terms were disclosed on the deal, which was the ninth buyout for the taxi operator in five years.

Last year, Addison Lee was being considered for a $1.3 billion takeover by Singapore-based public transportation operator SMRT Corp Ltd.
Private equity firm Carlyle Group bought a significant stake in the company in 2013, which provides private hire services in London and the South East of England, for 300 million pounds.