Private equity fund Carlyle Cardinal Ireland buys AA Ireland for €156m

Private equity fund Carlyle Cardinal Ireland (CCI) has made its seventh Irish investment with the acquisition of AA Ireland for €156.6m.

The fund — a joint venture between US global asset manager the Carlyle Group and Irish investment company Cardinal Capital Group — has bought AA Ireland in a deal that is expected to be completed this month.

A deal for the motoring services provider and insurance intermediary had been expected after its parent company, AA, confirmed earlier this year that it was in talks over a possible deal.