Friday, October 4, 2013

Solera Holdings Buys Stake In Auto Repair Info Provider

Westlake, Texas-based Solera Holdings, the provider of software and information to the automobile insurance industry, said late Thursday that it has acquired an equity interest Service Repair Solutions, a provider of a database of information on the auto service, maintenance, and repair market. Service Repair Solutions is owned by private equity firm Welsh, Carson, Anderson & Stowe. Solera said it will purchase at least 50% of Service Repair Solutions, for approximately $289M. Service Repair Solutions maintains a database of repair costs, which it provides to auto dealers and mechanical repair shops.