15 Jan 2013
a global provider and manager of alternative investment products, today confirmed that it has successfully completed the sale of CCC Information Services (“CCC” or “the Company”) to Leonard Green & Partners, L.P. CCC is the nation’s leading provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries. The sale unlocks over $550 million in proceeds for Investcorp and its investors.
The CCC transaction closes out an active two months of exits for Investcorp in North America. Together with November’s sale of FleetPride to TPG, Investcorp has generated over $1 billion of investment sale proceeds.
Mohammed Al-Shroogi, President for Gulf Business at Investcorp said: “The sale of CCC is another example of how Investcorp works closely with the management of its portfolio companies to drive expansion, product development and revenue growth. We are delighted with the results achieved by our corporate investment team over the last two months.”
During the period of Investcorp’s ownership since February 2006, CCC’s EBITDA grew organically by over 50 percent.