Addison Lee founder John Griffin has sold his minicab firm to US private equity firm Carlyle Group for £300m, The Evening Standard has reported.
The outspoken boss founded the business in 1975 and sold a 50% stake to Lenny Foster for £6,000 in 1976.
John will remain the chairman of the company and son Liam will be chief executive.
The Griffin and Foster families have retained small stakes in the business.
Liam Griffin told The Evening Standard: “We’re very much concentrated in central London but now we can look at going further afield within the M25, like the suburbs. We’ll look primarily at that area first.”
Read our interview with John Griffin
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