RAC owners rev up £5bn float plan as banks take steering wheel

The owners of the RAC person begun selecting bankers to spearhead a £5bn banal marketplace listing which could go 1 of the London market's biggest of 2026.

Sky News has learnt that the breakdown betterment service's trio of shareholders person picked concern banks including Goldman Sachs to pb a flotation.

The RAC, which was founded successful 1897 arsenic the Automobile Club of Great Britain, is owned by buyout firms CVC Capital Partners and Silver Lake Partners and the Singaporean authorities concern money GIC.

It has astir 15 cardinal members.

The RAC shareholders' plans to prosecute an exit were revealed by Sky News past summer, with a nationalist marketplace listing understood to beryllium their preferred option, though a merchantability remains a possibility.

The AA is besides backed by backstage equity investors who person appointed bankers to research an exit.

Towerbrook Capital Partners, Warburg Pincus and Stonepeak, which collectively ain the AA, person appointed JP Morgan and Rothschild to reappraisal the AA's strategical options.

The RAC employs thousands of radical and is 1 of Britain's astir recognisable user brands.

It is chaired by the erstwhile Debenhams main Rob Templeman and tally by main enforcement Dave Hobday.

None of the RAC's shareholders could beryllium reached for comment.