OREANDA-NEWS. August 12, 2016. Carlyle Cardinal Ireland (CCI) and Carlyle Global Financial Services Partners (CGFSP) have completed the acquisition of the AA Ireland (the “Company”) from the AA plc (AA:LSE) following receipt of the required regulatory approvals.

CCI partnered with CGFSP to acquire AA Ireland, one of the largest insurance intermediaries in Ireland, for €156.6 million including consideration for cash left on balance sheet.

The AA has been operating in Ireland for over 100 years and is a highly respected and trusted brand. The AA Ireland is one of the largest insurance intermediaries in Ireland and one of the best known motoring services providers employing more than 430 people. The company is a highly diversified business with more than 350,000 customers across its motor, home, travel and life businesses.

Peter Garvey, Managing Director, The Carlyle Group, John Dolan, Managing Director, Cardinal Capital Group and Michael Savage, Carlyle Global Financial Services Partners, led the investment for the buyers.

CCI has been an active growth investor in the Irish market over the last two years. The acquisition of AA Ireland is its seventh investment to date and the fund continues to explore other investment opportunities.  

Previous investments include Payzone, the largest provider of multi-channel consumer payments across Ireland, Tullamore-based cooked meats producer Carroll Cuisine, Kildare-based premium chocolate manufacturer Lily O’Brien’s, Learning Pool, the Northern Ireland based e-learning company andAbtran, a business process-management company.