Carlyle Cardinal Ireland Invests in General Secure Logistics Services
Investment to Provide Growth Opportunities for the Irish Provider of Cash Management and Cash Logistics Services
Carlyle Cardinal Ireland (CCI), the Irish private equity fund formed by The Carlyle Group (NASDAQ: CG) and Cardinal Capital, today announced it has invested in General Secure Logistics Services (GSLS), an Irish Cash Management Solutions provider.
GSLS provides a comprehensive cash logistics service, including cash in transit services, cash processing and the supply of notes and coins to an array of businesses across the Republic of Ireland.
Equity for the investment came from CCI, a €292 million Irish private equity fund focused on growth capital and buyout investment opportunities across Ireland. The investment was completed on September 30, 2014.
A spokesman for GSLS said: "We are pleased to partner with CCI to continue building our business. The investment, along with the expertise and network of CCI, will allow us to continue to grow and serve our diverse customer base.”
Further details of the transaction were not disclosed.
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Independent Irish company operating in the cash logistics sector. The company was founded in 2004 and provides the following services to both financial and retail clients:
· Cash collections
· Cash verification, reporting and banking
· Coin and note supply (floats)
· International movements
· High valuable storage
Currently the business employs 140 people based in Dublin and Limerick.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 129 funds and 141 fund of funds vehicles as of September 30, 2014. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,700 people in 40 offices across six continents.
Cardinal Capital Group (“Cardinal”) is a specialist investment management firm with offices in London and Dublin. Cardinal’s business activities encompass alternative investment management including hedge funds, private equity and real estate. Cardinal Asset Management Limited (UK) is registered and authorised by the Financial Conduct Authority as a financial advisor and maintains regulatory approval to conduct a wide range of financial services activities. Cardinal was founded in 2003.
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