CVC partners with GIC to back the RAC, Carlyle exits
December 03, 2015
CVC Capital Partners has entered into a partnership with GIC and will become a co-shareholder in the RAC by acquiring The Carlyle Group’s stake in the roadside assistance provider. The transaction is expected to close in early 2016. The RAC, which provides motoring services to its consumer membership base and corporate clients, generated revenue of £498 million and EBITDA of £169 million in 2014. Carlyle has backed the RAC since 2011.