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Investcorp SA, the Bahrain-based investment firm, said it completed the sale of CCC Information Services Inc., a provider of software for auto-insurance claims, to private equity firm Leonard Green & Partners LP.
The sale of CCC to Los Angeles-based Leonard Green “unlocks” more than $550 million in proceeds for Investcorp and its investors and brings to $1 billion the proceeds from sales since November, the firm said today in an e-mailed statement. Investcorp bought CCC Information Services for about $595 million in 2006, according to data compiled by Bloomberg.
Founded three decades ago, Investcorp, which has investments in Gucci and Saks Fifth Avenue, has about $11.5 billion in assets under management, according to its website.