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Investcorp, a global provider and manager of alternative investment products, has confirmed that it has successfully completed the sale of CCC Information Services to Leonard Green & Partners, L.P. The sale unlocks more than $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 more than $1 billion of investment sale proceeds.
"The sale of CCC is another example of how Investcorp works closely with the management of its portfolio companies to drive expansion, product development and revenue growth," said Mohammed Al-Shroogi, president for Gulf Business at Investcorp. "We are delighted with the results achieved by our corporate investment team over the last two months."
During the period of Investcorp’s ownership since February 2006, CCC’s EBITDA grew organically by more than 50 percent.