Headquartered in Birmingham, RAC provides motor-related services to both consumers and corporate clients with a workforce of around 4,000 employees.
RAC’s vehicle and breakdown services are offered through a nationwide, branded patrol force, focusing primarily on vehicle repair and recovery. It also provides motor insurance broking services, legal and motor claims services.
Carlyle said the equity for this transaction will come from Carlyle Europe Partners III (CEP III), a EUR5.4bn buyout fund focused on investment opportunities in Europe.
RAC CEO Angela Seymour-Jackson said this investment will enable RAC to enhance its current customer offering as well as diversify into new business areas.
The transaction, which is subject to regulatory and competition approvals, is expected to close at the end of the third quarter of 2011.
