The private equity owners of the AA, Britain’s biggest roadside recovery business, are looking for a potential £5bn sale or stock market flotation, while the owners of the rival RAC are targeting a London listing with a similar valuation.
The AA, which provides roadside assistance as well as insurance and driving lessons, is owned by a consortium including TowerBrook Capital Partners, Warburg Pincus and Stonepeak, and has been sounding out buyers, in news first reported by the Financial Times.
The AA’s owners are understood to value it at £5bn or more. They are also considering floating it on the London stock market – a decade on from its flotation by previous private equity owners. The plans are still in the early stages.
