The Carlyle Group (NASDAQ:CG) announced the sale of its stake in RAC,the roadside assistance and insurance provider, to CVC Capital Partners and GIC, Singapore’s sovereign wealth fund.
The RAC provides services for both private and business motorists including roadside assistance, insurance, buying a used car, vehicle inspections and checks, legal services or up-to-the-minute traffic and travel information In 2014, the RAC generated revenue of £498 million ($749 million) and EBITDA of £169 million ($254 million).
The sale is the latest for Carlyle in the U.K touching the auto physical damage claims and collision repair market.
In September, Carlyle
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