The private-equity firms that own CCC Information Services are exploring a possible sale of the company, according to a recent Bloomberg report.
TPG and Leonard Green & Partners “are working with an adviser to find a buyer for the Chicago-based company,” Bloomberg’s Kiel Porter wrote. The source “asked not to be identified because the information is private.”
CCC provides software for collision repairers, insurance companies and parts suppliers. The company’s client base includes more than 350 insurers and more than 22,000 repair facilities, according to the CCC website.
Leonard Green purchased CCC from Investcorp in 2013 for more than $550 million. Immediately after the sale, Leonard Green reportedly sold 50 percent of its interest in CCC Information Services to TPG.
It could be shaping up to be a busy year for mergers and acquisitions. The private-equity firms that own Service King reportedly are mulling a sale of the company for more than $2 billion.