A Travers Smith team have advised management on the acquisition by GIC, Singapore’s sovereign wealth fund, of a stake in UK roadside recovery group RAC. The transaction sees GIC and The Carlyle Group jointly owning a majority stake in the business with RAC management holding the remaining shares.

RAC is the second-largest roadside assistance provider in the UK and has approximately 8 million roadside members as of 30 June 2014. It has a unique heritage going back 117 years and is the UK’s most trusted automotive service brand.

Carlyle were represented by Linklaters and Latham and Watkins. Freshfields Bruckhaus Deringer acted for GIC.