Stonepeak is investing £450 million ($579 million) for a minority non-controlling stake in The AA, a U.K. provider of roadside assistance, through a combination of common and preferred equity at an enterprise value of approximately £4 billion ($5 billion).
The agreement was initially announced on Dec. 27, 2023. The AA said the conditions of the acquisition have been satisfied in full, resulting in the completion of the transaction.
Following the closure of the transaction, TowerBrook Capital Partners and Warburg Pincus remain the majority shareholders of The AA.
The AA serves 14 million members with approximately 2,700 patrols attending an average of 9,000 breakdowns daily. As reported at the time of the company’s FY24 results, The AA has completed the first phase of its strategy and is now focused on accelerating growth and profitability. The additional capital from Stonepeak will be used to strengthen the company’s balance sheet, enabling The AA to repay
