According to a report by Reuters, Advent International is considering selling its stake in CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS). The private equity firm acquired its stake in 2017 when it purchased the company from CCC’s previous owners Leonard Green & Partners (LGP) and TPG Capital (TPG).
CCC was taken public in 2021 through a merger with a special purpose acquisition company (SPAC) formed by Dragoneer Investment Group. SPACs, a type of blank check company created to pool funds in order to finance a merger acquisition, had become popular as a means to transition private companies into publicly
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