Hellman & Friedman buys minority stake in Canada’s CarProof


car-headlightsq_lrgSan Francisco-based private equity firm Hellman & Friedman has picked up a minority stake in Canadian vehicle history report provider CarProof.

Neither party revealed financial details of the deal, although Hellman says its target investment size is $300m to $1bn of equity.

Hellman deputy CEO Patrick Healy said, “CarProof is at the intersection of two areas of expertise for Hellman & Friedman – investing in world class data and information services businesses and partnering with exceptional business leaders like Paul Antony and his co-founders through minority investments.”

Hellman’s Ed Woiteshek added, “We recognize that the vehicle history report industry is one with very strong potential and see this partnership as an incredible opportunity for both companies.

“We are enthusiastic about CarProof’s strategic vision for the future and are excited to support the company in its next phase of growth.”

Hellman is currently investing from its $8.8bn seventh flagship buyout fund closed in 2009, which brought its total committed capital raised to $25bn since its first partnership in 1987.

Earlier this week it emerged the firm was planning a dividend recapitalisation of Wood Mackenzie a year after acquiring the oil and gas research company.

Copyright © 2013 AltAssets