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You are here: Home / News / Carlyle Sells Majority Stake in Service King

Carlyle Sells Majority Stake in Service King

July 23, 2014 By CollisionWeek Editor

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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Filed Under: News Tagged With: Blackstone Group, Carlyle Group, Service King Collision Repair Centers

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