Investcorp completes the sale of CCC Information Services Inc. to Leonard
Green & Partners, L.P.
ACTIVE PERIOD OF SALES RESULTS IN OVER $1 BILLION OF DISTRIBUTION PROCEEDS FOR
NEW YORK, Jan. 15, 2013
NEW YORK, Jan. 15, 2013 /PRNewswire/ --Investcorp, 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.
Steve Puccinelli, Managing Director at Investcorp and Head of Corporate
Investments for North America and Europe said: "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."
During the period of Investcorp's ownership since February 2006, CCC's EBITDA
grew organically by over 50 percent.
Investcorp is a leading provider and manager of alternative investment
products.Investcorp has offices in New York, London and Bahrain and is
publicly traded on the Bahrain Bourse (INVCORP).Investcorp has three business
areas: corporate investment in the US, Europe and the Gulf, real estate
investment in the US and global hedge funds.As at June 30, 2012, Investcorp
had $11.5 billion in assets under management.Further information is available
Contact: FTI Consulting: James Cheston, +1-646-576-8120,
Jim.email@example.com; or Investcorp: Firas El Amine, +973 3998 7838,
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