Private equity firm Leonard Green & Partners has entered into an agreement to acquire a controlling interest in CCC Information Services from Investcorp. Committed debt financing has been provided by certain affiliates of Goldman Sachs, including its principal mezzanine funds, and J.P. Morgan.
Like this article? Sign up to receive our weekly news blasts here.“We’re very excited about the opportunities ahead and the chance to partner with Leonard Green. They have an impressive stable of companies and a tremendous track record of helping those companies grow,” said Githesh Ramamurthy, Chairman & CEO of CCC. “I would like to extend my sincere thanks to the Investcorp team for their strong and supportive partnership. Additional thanks to Goldman Sachs and J.P. Morgan, both for their involvement with the company over the past seven years, and their confidence as they continue to move forward with us. This partnership is a terrific fit as CCC continues to drive innovation and growth. Most important, I would like to acknowledge our customers for their trust and confidence and the entire CCC team for their commitment.”
“We love companies with strong business models, leading market positions and proven management teams,” said John Danhakl, Managing Partner at Leonard Green. “CCC has built a fantastic business by relentlessly focusing on value added solutions for their customers. They have a compelling view of the future, and we look forward to working with the team to help grow and expand in innovative ways.”
Terms of the transaction were not disclosed.
CCC's client base includes more than 350 insurance companies and more than 21,000 repair facilities. For more information visit www.ccc.cccis.com.
