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Car Care Plan sold for £44m

Yorkshire-based Car Care Plan has been sold by its US owners for £44 million to AmTrust Financial Services.

The company provides insurance and extended warranty products to franchised dealers, independents and manufacturers.

Barry Zyskind, AmTrust president and chief executive, said: “We are excited about the addition of CCPH's successful and geographically diverse extended warranty and insurance platform.

"The combination of CCPH with our existing operations significantly expands our international warranty footprint and positions AmTrust to provide a unique international operation to service the growing needs of large auto manufacturers.

"The talent and experience of the combined organisation is expected to accelerate revenue growth and enhance shareholder value as we deliver market leading insurance products and services to our clients."

Car Care Plan has total assets in excess of $360 million. Over the next year, CCPH is projected to generate revenue for the company in excess of $140 million including fee income of more than $30 million and pre-tax profits of over $14 million.

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