Bahrain's Investcorp sells CCC Information Services

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Investcorp, one of the Middle East's largest private equity houses, has sold CCC Information Services to US-headquartered Leonard Green & Partners, the Bahrain-based firm said on Tuesday.

No value for the sale of the insurance industry software provider was given, but it unlocks more than $550 million in proceeds for Investcorp and its investors, the private equity house said.

CCC's EBITDA (earnings before interest, tax, depreciation and amortisation) has increased by more than 50 percent since Investcorp acquired the firm in February 2006, it added.

This is Investcorp's second exit from a North American asset in the past three months, after it sold truck and trailer parts distributor FleetPride to private equity firm TPG for over $1 billion in November.

Investcorp, which previously took public luxury brands Gucci and Tiffany & Co, had $11.5 billion in assets under management as at June 30.

Los Angeles-based Leonard Green, in partnership with Ares Management, acquired hospital staffing company CHG Healthcare Services from J.W. Childs Associates in October in a deal said to be worth around $1 billion.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew