Brake Bros sold to US equity group

Brake Bros has been sold to US private group Bain Capital for around £1.4bn

Bain beat competition from a consortium of Blackstone and Aurigo, as well as private equity groups Cinven and CVC.

The deal makes a profitable exit for Brakes'current equity owner Clayton Dubilier & Rice, which bought the company for $343m five years ago with the founding family's backing and took out a debt repayment of about £275m last year.

CD&R invested £175m of equity in the original deal. Brakes' turnover has grown 14% and its profits by nearly 70% over the past five years.

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