Solera Pays $289M For 50% Of Welsh Carson Auto Service Co.
By Chelsea Naso
Law360, New York (October 4, 2013, 3:58 PM EDT) -- Solera Holdings Inc. said Friday it would pay $289 million to purchase half of an automotive service solutions company from private equity firm Welsh Carson Anderson & Stowe, giving the insurance software and services company a deeper reach in the automotive service industry at the consumer level.
The deal calls for Solera to acquire up to 50 percent of Service Repair Solutions Inc.’s shares from New York-based Welsh Carson to form a joint venture. Solera will have operational control of SRS, with Solera’s founder and CEO...