Two years after acquiring the multiple shop operator, the Carlyle Group is selling a majority stake to the private equity firm Blackstone Group LLP that reportedly values the business at $650 million.
Service King Collision Repair Centers announced that private equity funds controlled by Blackstone (NYSE: BX) will recapitalize one of the largest independent U.S. chains of automobile body repair centers. The Carlyle Group (NASDAQ:CG) together with its co-investors and the management and employees of Service King will retain a significant minority stake in the Company. Terms of the transaction, which is expected to close during the third quarter, were
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