Investcorp has sold its portfolio company CCC Information Services, a provider of software and workflow tools to the insurance automotive claims and collision repair industries, to Leonard Green & Partners for $550 million.
CCC Information Services (CCC) is the nation’s leading provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries. The company is based in Chicago (www.cccis.com).
Investcorp acquired CCC in February 2006 and during its ownership term the company’s EBITDA grew organically by over 50 percent.
“CCC is a true market leader, and we have enjoyed a successful partnership with the company’s stellar management team over the past several years. Working alongside management, Investcorp was able to support CCC’s business objectives, its expanded market presence, and, through substantial investments in technology and infrastructure, its development of new products to further penetrate the insurance and automotive markets and strengthen and improve the company’s product offering. This is emblematic of the value that Investcorp brings to each of our portfolio companies,” said Steve Puccinelli, Managing Director at Investcorp and Head of Corporate Investments for North America and Europe.
Investcorp invests in mid-size companies operating in an array of industry sectors that have total enterprise values of between $200 million and $1 billion and are located in North America or Western Europe. The group has offices in London and New York (www.investcorp.com).
Leonard Green & Partners’ invests in middle-market companies with market-leading franchises and defensible competitive positions, attractive growth prospects and proven management teams. The firm’s investments are in the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carve-outs and selective public equity and debt positions. Sectors of interest include retail, distribution, healthcare, aerospace/defense, and consumer/business services. Leonard Green & Partners was established in 1989 and manages approximately $15 billion of equity capital. The firm is located in Los Angeles (www.leonardgreen.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-16-13
