CVC Capital Partners is preparing for a new attempt to sell Domestic & General Group (D&G), one of the largest warranty providers in Britain.
Sky News has learned that the Amsterdam-listed private equity firm is starting to explore options for divesting its majority stake in the company.
D&G offers coverage for electrical products bought from over 100 brands, such as Hoover, John Lewis, Samsung, and Argos.
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CVC acquired D&G from fellow buyout firm Advent International for about £750m 12 years ago, marking a notably long-term investment in the private equity sector.
The company was publicly listed before going private in 2007.
The current owner sold a 30% share of D&G to the Abu Dhabi Investment Authority in 2019 after conducting a comprehensive auction process and contemplating a return of the appliances insurer to the London stock market.
Earlier this year, D&G underwent an £800m refinancing, using the proceeds to settle existing debts.
Possible options for CVC include selling D&G to another entity controlled by the current owner, referred to as a continuation vehicle, or seeking a merger partner for the company.
Sources indicate that CVC’s preference, however, is to divest its stake to third parties.
It remains unclear as of Tuesday how soon a transaction could materialize.
CVC chose not to provide a comment.