Investcorp, one of the Middle East's largest private equity houses, has sold CCC Information Services to US-headquartered Leonard Green & Partners, the Bahrain-based firm said on Tuesday.
No value for the sale of the insurance industry software provider was given, but it unlocks more than $550 million in proceeds for Investcorp and its investors, the private equity house said.
CCC's EBITDA (earnings before interest, tax, depreciation and amortisation) has increased by more than 50 percent since Investcorp acquired the firm in February 2006, it added.
Bahrain's Investcorp sells CCC Information Services - ArabianBusiness.com
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