CVC, GIC Buy Carlyle Stake in U.K. Roadside Assistance Firm RACAaron Kirchfeld
CVC Capital Partners and Singapore’s sovereign wealth fund GIC Pte agreed to buy Carlyle Group LP’s stake in British roadside assistance company RAC.
CVC and GIC plan to invest in RAC’s technology, data and telematics platform and see a “significant long-term growth opportunity,” according to an e-mailed statement today. The companies didn’t disclose the value of the transaction.