According to information obtained by News, Cheyne Capital, the majority stakeholder in Addison Lee, has engaged the investment bank Jefferies to seek interest in a purchase.
One insider believes the process is still in its early stages and may not result in a sale.
It’s unknown how much Addison Lee might be worth in any deal.
In 2020, the company—which provides annual transportation services for over seven million people—was sold to Liam Griffin, the founder John Griffin’s son, and Cheyne Capital’s Strategic Value Credit division.
That agreement followed a struggle for dominance inside Addison Lee’s syndicate.
His son claimed in an interview conducted earlier this year that adjustments made to post-pandemic work procedures contributed to the capital’s decrease in revenue.
Both the city’s classic black taxis and ride-hailing applications like Uber compete with Addison Lee for customers.
Addison Lee’s representative declined to provide a statement.
