CCC announces its acquisition by GTCR, Elliott

CCC Intelligent Solutions Holdings announced Thursday that a consortium of private investment firms, led by GTCR and including Elliott Investment Management, will acquire it in an all-cash transaction with an enterprise value of $6.1 billion.

Until the transaction closes, CCC will remain publicly traded and continue operating as an independent company, according to a CCC press release.

“The transaction is not subject to a financing condition,” the release states. “Upon completion of the transaction, CCC will become a privately held company, and its common stock will no longer be listed on the Nasdaq.”

Githesh Ramamurthy, CCC’s chairman and CEO, says Thursday’s announcement “follows a thorough review of strategic options with assistance from our financial and legal advisors.”

The release states that CCC’s Board of Directors approved the transaction, which is expected to close in Q1 2027, subject to customary closing conditions, including the receipt of required regulatory approvals and CCC stockholder approval.

“Our Board of Directors is confident this transaction recognizes the strength of the business our team has built while delivering immediate and premium cash value to our stockholders,” said Ramamurthy.

Under the terms of a definitive agreement, CCC stockholders will receive $7.75 in cash for each share of CCC common stock, representing a premium of 44% to CCC’s unaffected closing stock price on July 9, 2026, and a premium of 59% to the 30-day average price as of July 9, 2026.

A press release announcing the acquisition notes that July 9 was the last trading day before media speculation of CCC’s potential sale. At the time, Reuters reported that CCC was “exploring a sale of the company, according to three ‌people familiar with the matter.”

The article stated: “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.”

In August, Seeking Alpha, Bloomberg News, and Reuters reported that private equity firms and Copart were reportedly interested in buying CCC.

At the time Repairer Driven News reached out to CCC for comment on the reported interest. A company spokesperson responded, “CCC doesn’t comment on rumors and speculation.”

Now, Ramamurthy says that with the experience and resources GTCR and Elliot provide, CCC will continue to build on its momentum and extend its leadership.

“Throughout CCC’s history, we have helped customers navigate growing complexity and achieve better outcomes through technology and innovation,” he said. “Together, we will accelerate the AI and agentic capabilities our customers want from us, expand the network at the center of our platform, and continue to develop and build our world-class team. I am deeply grateful to our employees for their dedication and commitment to our customers, and I am excited for all that we will accomplish together in this next chapter.”

He shared similar commentary to a Facebook post by CCC announcing the sale.

A Reuters article published after the CCC announcement noted that “earlier this year, the company faced investor concerns over slowing growth, ‌softer ⁠claims volumes and a slower-than-expected rollout of some newer software products, which had weighed on its share price.” Meanwhile, the acquiring firms have expressed confidence in CCC’s underlying business and its opportunities for future growth, particularly through artificial intelligence.

When Repairer Driven News asked CCC for comment on its reasoning for the acquisition, CCC reiterated that its Board of Directors approved the transaction and said it “delivers immediate and certain value to shareholders at a significant premium to the unaffected share price.”

“CCC remains a strong business,” a CCC spokesperson said. “Our Board of Directors is confident this transaction recognizes the strength of the business our team has built while delivering immediate and premium cash value to our stockholders. Beyond today’s announcement and related SEC filings, we do not have additional information to share at this time.”

CCC went public in 2021 after announcing 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 most of the shares once CCC went public. Reuters previously reported that Advent “fully exited its investment in 2025 through a series ​of secondary share offerings, ‌including the sale of its remaining stake in November.”

On Thursday, Mark Anderson, GTCR media and telecommunications managing director and head of technology, said the PE firm has followed CCC for years and believes it’s “uniquely positioned to support their customers as they increasingly adopt AI solutions to improve decision-making and efficiency across the claims and repair lifecycle.”

“We look forward to partnering with Githesh and the talented CCC team to support continued investment in product innovation and AI capabilities, expand the company’s offerings and build long-term value,” he said. “Our focus will be on helping CCC deliver better outcomes for its customers while supporting CCC’s next phase of growth.”

David Kerko, Elliott’s head of global private equity, added: “We have [a] strong belief in CCC’s position as the trusted third party at the center of the automotive insurance and repair industry. CCC’s role within the large ecosystem of insurers, repair facilities, automakers and parts suppliers creates strong data advantages and network benefits for their more than 35,000 customers. We believe these advantages make CCC a highly durable franchise in vertical software – which AI will only make more valuable as CCC delivers the next generation of capabilities to its customers.”

CCC will report its Q3 earnings on Oct. 29 without a conference call and webcast “in light of the pending transaction,” according to the release.

Morgan Stanley & Co. is serving as financial advisor in the transaction. Kirkland & Ellis is serving as legal counsel, and Joele Frank, with Wilkinson Brimmer Katcher, is serving as strategic communications advisor to CCC.

J.P. Morgan is serving as lead financial advisor to GTCR and lead arranger of committed financing for the transaction. Citi is also serving as financial advisor and participating in the committed financing. Simpson, Thacher & Bartlett is serving as GTCR’s legal counsel. Gibson, Dunn & Crutcher and Debevoise & Plimpton are serving as Elliott’s legal counsel.

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