Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, has entered into an agreement with roadside assistance organisation the AA, and its majority shareholders, TowerBrook Capital Partners and Warburg Pincus.
Per the agreement, Stonepeak will invest £450m in the AA through a combination of common and preferred equity at an enterprise value of approximately £4bn. Following this investment Warburg Pincus, a global growth investor, and TowerBrook, a purpose-driven transatlantic investment management firm, will remain the majority shareholders of the AA.
The AA is the leading provider of roadside assistance services in the UK with a nationwide network of patrols and garages serving 14 million members. It also has a successful insurance business and a wide range of propositions across the driving category.
