GTCR and Elliott in advanced talks to acquire CCC Intelligent Solutions

Private equity firm GTCR and activist investor Elliott Investment Management are in advanced discussions to acquire CCC Intelligent Solutions, a Chicago-based software provider for the automotive insurance and repair industries. A deal could potentially be announced as early as next week, though negotiations are ongoing and a final agreement has not been reached.

Following reports of the potential acquisition, shares of CCC Intelligent Solutions rose significantly in trading. The company provides essential software used by auto insurers, repair shops, automakers, and parts suppliers to manage operations.

CCC has been exploring strategic options with financial advisors after Elliott Investment Management accumulated a substantial stake in the business. Previous reports indicated that vehicle auctioneer Copart had also been in talks to acquire the company. The potential transaction highlights Elliott’s strategy of combining activist investment with private equity to facilitate take-private deals.