CCC Intelligent Solutions agrees $6.1bn take-private by GTCR and Elliott

CCC Intelligent Solutions has agreed a $6.1bn take-private by GTCR and Elliott Investment Management to develop its AI capabilities, the company said on 15 October.

The all-cash deal puts an established motor insurance and repair workflow network into private equity ownership. CCC connects more than 35,000 insurers, repairers, carmakers and parts suppliers.

Stockholders will receive $7.75 a share, CCC said on 15 October. That is about 44% above the unaffected closing price on 9 July, the last trading day before media speculation, and about 59% above the 30-day average at that date.

CCC said it draws on 40 years of industry data and has embedded AI in its workflows for more than a decade. The buyers and the company both put those capabilities at the centre of their case for the transaction.

"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," said Githesh Ramamurthy, chairman and chief executive of CCC.

David Kerko, head of global private equity at Elliott, said the firm had "strong belief" in CCC's position as a trusted third party in the automotive insurance and repair sector. Elliott also cited the company's data and network advantages.

CCC's board approved the deal, which is expected to close in the first quarter of 2027, subject to regulatory and stockholder approvals. It is not subject to a financing condition. CCC stays listed on Nasdaq until completion.

The merger agreement includes a $149.5m break fee payable by CCC and a $314.0m parent break fee, according to a Wiseek summary of SEC proxy materials. The outside date is 14 April 2027.

Morgan Stanley and Kirkland & Ellis advised CCC. J.P. Morgan is lead financial adviser to GTCR and lead arranger of the committed financing. Citi is also advising and participating in the financing. Simpson Thacher advised GTCR, while Gibson Dunn and Debevoise advised Elliott.

CCC will publish third quarter results on 29 October but will not hold a call.

Regulatory and stockholder approvals remain outstanding, and CCC will stay public until the deal closes.

Related coverage: Guidewire agrees to buy London pricing firm hyperexponential for $1.7bn and Skyward becomes primary carrier for AI-native embedded insurer Slingshot.

Sources

• CCC: CCC Intelligent Solutions signs definitive agreement to be acquired by GTCR and Elliott
• SEC filing: Exhibit 99.1
• Kirkland & Ellis: Kirkland advises CCC on $6.1 billion acquisition
• Wiseek: CCC proxy materials summary

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