AkzoNobel today announced the sale of its Specialty Chemicals business to private equity firm The Carlyle Group and GIC Pte. Ltd., Singapore’s sovereign-wealth fund, for €10.1 billion ($12.5 billion). The sale, part of the plan announced last spring, to split the company into two units with one focusing on Paints and Coatings, and the other Specialty […]
Service King Reportedly Up for Sale
Private equity firms rumored to be considering exiting their position in collision repair facility operator. Service King Collision Repair Centers may be up for sale according to an article published Monday by Bloomberg. Founded in 1976 by Eddie Lennox in Texas, the collision repair chain now operates 309 locations in 23 states. According to unnamed […]
Carlyle Completes Acquisition of AA Ireland
Carlyle Cardinal Ireland (CCI) and Carlyle Global Financial Services Partners (CGFSP) have completed the acquisition of the AA Ireland from the AA plc (LON:AA) following receipt of the required regulatory approvals. CCI partnered with CGFSP to acquire AA Ireland, one of the largest insurance intermediaries in Ireland, for €156.6 million ($176.6 million) including consideration for […]
Carlyle Group to Sell Remaining Stake in Axalta
Axalta Coating Systems Ltd. (NYSE:AXTA) last week announced a secondary offering of of 41,621,996 common shares by affiliates of The Carlyle Group . The offering was subsequently priced at $28.25 a share, providing Carlyle with $1.175 Billion. Axalta will not receive any of the proceeds from the offering of shares by Carlyle. According to a […]
Carlyle Group to Sell 25 Million Axalta Shares
Axalta Coating Systems Ltd. (NYSE:AXTA) announced the sale of 25 million common shares by affiliates of The Carlyle Group. In addition, the underwriter will have a 30-day option to purchase up to 3,750,000 additional common shares from Carlyle. Axalta will not receive any of the proceeds from the offering of shares by Carlyle. Closing of […]
Innovation Group Rebrands Software Business Following Carlyle Acquisition
The Innovation Group rebranding its software business to 1insurer The Innovation Group announced the completion of the company’s acquisition by The Carlyle Group and rebranding of its software business as 1insurer. “The acquisition of Innovation Group by Carlyle, and the rebranding for 1insurer, are efforts that truly go hand-in-hand,” said Paul Nichols, CEO, 1insurer. “With […]
Carlyle Group Completes Acquisition of Innovation Group
The Carlyle Group (NASDAQ: CG) last week announced the successful acquisition of Innovation Group (LON: TIG) for £500 million ($689 million). Originally announced in September, capital for the acquistion came from Carlyle Europe Partners IV (CEP IV), a European-focused upper-mid market buyout fund. Further terms of the transaction were not disclosed. Founded in 1996 and […]
Carlyle Closes Acquisition of National Accident Repair Services
The Carlyle Group announced that it has completed the previously announced acquisition of National Accident Repair Services PLC (NARS), the collision repair and accident administration service provider in the UK. Following approval by the High Court of Justice of England and Wales, NARS has made an application to the London Stock Exchange for the cancellation […]
Carlyle Group Makes Offer for Nationwide Accident Repair Services
UK-based operator of more than 70 collision repair centers, mobile and glass repair businesses and network services makes agreement with Carlyle subsidiary valuing the company at nearly $64 million. The board of Nationwide Accident Repair Services plc (NARS), the UK-based accident repair and management company, announced an agreement for Canaveral Bidco Limited (CSP Bidco), a […]
Carlyle Sells Majority Stake in Service King
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. […]