Silver Lake Partners Invests in RAC

Posted on 09/06/2021

Silver Lake Partners acquired a stake in U.K.-based RAC Limited from CVC Capital Partners (CVC Strategic Opportunities I) and Singapore’s GIC Private Limited. The deal values RAC at 3.7 billion GBP. The transaction is subject to customary regulatory approvals and is expected to close in late fourth quarter of 2021.

GIC has been a shareholder of RAC since 2014 and CVC Capital since 2016. RAC is a major roadside assistance provider across the U.K. RAC provides motoring services to its consumer membership base and corporate clients. Headquartered in Birmingham and employing over 4,000 colleagues nationwide, RAC provides a differentiated range of driving and mobility-related services including breakdown assistance and insurance products.

BofA Securities and Goldman Sachs International acted as financial advisers, and Freshfields Bruckhaus Deringer as legal advisor, to RAC. J.P. Morgan acted as financial advisor and Baker McKenzie as legal advisor to Silver Lake.

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