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RAC Owners Begin Planning for Potential £5 Billion London IPO

lite News Desk 2 min read

At a glance

  • RAC owners are selecting banks for a possible 2026 London listing
  • The company is owned by CVC Capital Partners, Silver Lake, and GIC
  • RAC reported 15 million members and £411 million in revenue in mid-2025

The RAC’s private equity owners are preparing for a potential public listing in London, a move that could value the company at around £5 billion. This development follows a period of growth for the company and ongoing consideration of strategic options by its shareholders.

Investment banks, including Goldman Sachs, have been approached to lead the possible stock market flotation, which is being considered for later in 2026. The process comes as the RAC’s owners, CVC Capital Partners, Silver Lake Partners, and Singapore’s GIC, continue to evaluate both a sale and a public offering.

The RAC, which began as the Automobile Club of Great Britain in 1897, has become one of the UK’s largest motoring organisations. The company’s leadership includes Rob Templeman as chair and Dave Hobday as chief executive.

Plans for an exit by the current shareholders were first made public in the summer of the previous year, with a listing on the stock market identified as their preferred route. However, a sale of the business remains an alternative under consideration.

What the numbers show

  • RAC’s revenue reached £411 million in the first half of 2025
  • Earnings before interest, tax, depreciation, and amortisation rose to £152 million
  • Membership increased from 14.1 million to 15 million during the same period

Recent financial results indicate that the RAC experienced an 8% rise in revenue and a 12% increase in EBITDA in the first half of 2025. The company’s membership base also grew by nearly one million over this period.

The RAC’s ownership structure includes three major investors: CVC Capital Partners, Silver Lake Partners, and the Singaporean sovereign wealth fund GIC. These shareholders are assessing the most suitable strategy for the company’s future, with both sale and listing options on the table.

As of mid-2025, the RAC reported a total membership of approximately 15 million. The company’s financial performance and large customer base are factors being considered as the owners plan their next steps.

The selection of investment banks to manage the potential listing marks an early stage in the process. Further details regarding the timing and structure of any public offering or sale have not been finalised.

* This article is based on publicly available information at the time of writing.

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