News Release

Carlyle Cardinal Ireland Sells GSLS to STAR Capital


Carlyle Cardinal Ireland (CCI) has sold a majority ownership in GSLS, Ireland’s largest independent secure logistics company, to STAR Capital (“STAR”), a leading European fund manager, for an undisclosed sum.

Founded in 2004 GSLS has grown to become one of the most advanced secure logistics companies in the Irish market, with a blue-chip customer base that includes some of the largest banks, retailers and public-sector organisations in Ireland.

CCI, the Irish private equity fund sponsored by The Carlyle Group (NASDAQ: CG) and Cardinal Capital Group, acquired a majority shareholding in GSLS in 2014. The company has grown significantly during this period and GSLS now has 200 employees, up more than 70% under CCI’s ownership. This growth was achieved with significant investment in the company’s fleet, premises and IT systems enabling GSLS to introduce new and enhanced services to its customers. It has also allowed the company to become a partner of choice for the largest banks in Ireland.

STAR will continue to support GSLS’s existing management team to help the company grow and develop further.


Press Contact:

The Carlyle Group
Laurie Mannix, MKC Communications
Tel. +353 1 703 8620 Mob: 086 814 3710

Cardinal Capital Group
Tom McEnaney, McEnaney Media
Tel: +353 87 2222 666

STAR Capital
Ed Bridges/Stephanie Ellis, FTI Consulting +44 20 3727 1000

About GSLS
GSLS is one of the most advanced cash management services companies in Ireland. Using a fleet of 90 armoured vehicles and two state-of-the art cash centres in Dublin and Limerick, it makes over 6,500 cash collections every week.

Carlyle Cardinal Ireland
Carlyle Cardinal Ireland is a joint venture between The Carlyle Group (NASDQ: CG) and Cardinal Capital Group. A €292 million private-equity fund focused on growth capital and buyout investment opportunities, CCI has become an important source of funding and support for Irish companies, investing in eight companies, including AA Ireland, Abtran, Carroll Cuisine, Learning Pool, Payzone, and Sam McCauley, and employing more than 4,000 people across its portfolio.

About Cardinal Capital Group
Cardinal is Ireland’s leading provider of alternative capital, directing private-equity capital, mezzanine finance and alternative lending to a broad range of sectors in the Irish market. Cardinal invests its own capital alongside institutional funders to support entrepreneurs and corporate management teams as well as real estate investors and developers.


About The Carlyle Group The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $195 billion of assets under management across 317 investment vehicles as of December 31, 2017. 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 Credit and Investment 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 more than 1,600 people in 31 offices across six continents.

About STAR Capital
Established in 1999 and fully owned by its partners, STAR is a specialist investor in and developer of strategic asset-based businesses in Western Europe. Through active management, STAR is able to expose, build and realise the long-term cash flow characteristics of these businesses. Since inception, STAR has invested over €1 billion of equity across 20 businesses, representing over 70 acquisitions including add-ons.