CCC on reported talks of selling company
Private equity firms and Copart are reportedly interested in buying CCC Intelligent Solutions, according to Seeking Alpha, Bloomberg News, and Reuters.
When Repairer Driven News asked CCC to confirm whether Copart has expressed interest in buying the company, a CCC spokesperson responded: “CCC doesn’t comment on rumors and speculation.”
Seeking Alpha reported last week that CCC’s stock rose 8% after a report that Copart is in talks to purchase the company, while Copart “edged lower by 0.3%.”
“Copart has been competing with several private equity firms, including GTCR and Veritas Capital, to purchase CCC, according to a Bloomberg report on Tuesday, which cited people familiar with the matter,” the Aug. 19 Seeking Alpha article states. “Deliberations are ongoing, and there’s no guarantee a deal will come to fruition.”
Copart didn’t respond to RDN’s request for comment. Bloomberg reports it also didn’t receive a response from Copart.
Bloomberg’s sources on the sale talks asked “not to be identified because the information is private,” the article states. It adds: “Deliberations are ongoing, and there’s no certainty that any of the suitors will reach an agreement, the people said, adding that it’s also possible another buyer could emerge.”
“CCC has been working with a financial adviser in recent weeks to explore options after Elliott Investment Management built a large stake in the Chicago-based firm,” the article states. “Elliott, which is best known as an activist investor that takes stakes in some of the world’s largest companies, has been engaging via its private equity arm with CCC, Bloomberg News reported in July.”
In July, Reuters reported that CCC was “exploring a sale of the company, according to three people familiar with the matter.”
The article states: “The Chicago-based company has hired Morgan Stanley to advise on a sale process and has reached out to prospective buyers, including private equity firms, the sources said.”
It also states that CCC stock rose 13% to $6.09 in after-hours trading following Reuters’ report.
“The company’s market value has fallen to roughly $3.3 billion from about $6.4 billion a year ago as investors grew concerned about slowing growth, weaker industry claims volumes and slower-than-expected adoption of some of its newer software products,” Reuters reported in July. “The company’s shares have declined about 44% over the past 12 months.”
CCC went public in 2021, following a February announcement that its owners at the time and a Dragoneer Investment Group spinoff had agreed to a merger and subsequent listing of shares on the New York Stock Exchange.
Private equity firm Advent, which owned the majority of CCC at the time, would continue to hold the most shares once CCC went public. Reuters reports that Advent “fully exited its investment in 2025 through a series of secondary share offerings, including the sale of its remaining stake in November.”
CCC held its Q2 earnings call on July 30. CCC leadership didn’t mention anything about a sale of the company during the call.
Investors were told that CCC AI product usage continued to rise in insurance claims handling during the quarter, expanding substantially compared to Q2 2025.
Rodney Christo, CCC’s interim CFO and chief accounting officer, added that Q2 revenue from AI-based solutions contributed 4 points of growth, “primarily driven by our APD solutions, subrogation, and EvolutionIQ.”
The Aug. 18 Bloomberg article states: “Any deal involving CCC would mark a turning point for the software industry at a time when many investors have been pulling back from making fresh bets amid fears of displacement from artificial intelligence tools.”
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Featured image: CCC’s 2018 SEMA Show booth (RDN file photo)