The business was sold to Compagnie Financiere du Groupe Michelin, which holds all of Michelin’s industrial and commercial companies and research activities outside of France.
The stake was sold for around $260m and Sascar was valued at R$1.6bn ($714m).
In Brazilian reais, the firm made a return of 3.5 times and an IRR of 45 per cent.
Sascar, which was backed by GP in 2011, posted an EBITDA of R$106m last year.
Recent private equity deals in Brazil include Bain Capital’s acquisition of health and dental plan providerGrupo Notre Dame Intermedica.
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