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Official Site: RAC.co.uk
Wikipedia: RAC Limited Page Sections History Article Index |
History
The following section is an excerpt from Wikipedia's RAC Limited page on 4 August 2020, text available via the Creative Commons Attribution-ShareAlike 3.0 Unported License.
RAC Limited (The RAC) is a British automotive services company headquartered in Walsall, West Midlands. Its principal services are roadside assistance and general insurance, and its subsidiaries include RAC Motoring Services Ltd, RAC Financial Services Ltd and RAC Insurance Limited.
The RAC emerged as the "Associate Section" of the Royal Automobile Club founded at the turn of the 20th century, and it was incorporated as R.A.C. Motoring Services Ltd. in 1978. It was sold by the members of the Royal Automobile Club to Lex Service in April 1999, which subsequently renamed itself RAC plc. In March 2005, RAC plc was acquired by Aviva and therefore delisted.
Aviva then sold the RAC to the Carlyle Group in June 2011. Although Carlyle had originally planned a stock market flotation for the RAC, in September 2014, Carlyle agreed to sell almost half its stake to Singapore's sovereign wealth fund GIC Private Limited. In December 2015, Carlyle agreed to sell its remaining stake to CVC Capital Partners, in an transaction valuing the RAC at £1.4 billion.
The RAC's main competitors are The AA and Green Flag.
| Date | Article | Author/Source |
|---|---|---|
| 25 August 2006 | Quality of an RAC Car Inspections, The | Tony Smith |
| 4 January 2010 | RAC Warns of New Year Breakdowns | RAC |