CCC Information Services Inc., announces that Leonard Green & Partners has entered into a definitive agreement to acquire a controlling interest in the company from Investcorp. CCC is a provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries.
“We’re very excited about the opportunities ahead and the chance to partner with Leonard Green. They have an impressive stable of companies and a tremendous track record of helping those companies grow,” says Githesh Ramamurthy, chairman and CEO of CCC. “I would like to extend my sincere thanks to the Investcorp team for their strong and supportive partnership. This partnership is a terrific fit as CCC continues to drive innovation and growth.”
“We love companies with strong business models, leading market positions, and proven management teams,” says John Danhakl, managing partner at Leonard Green. “CCC has built a fantastic business by relentlessly focusing on value added solutions for their customers. They have a compelling view of the future, and we look forward to working with the team to help grow and expand in innovative ways.”
Terms of the transaction were not disclosed.