Carlyle Group acquired a 51% stake in Tempo Participacoes.

Carlyle Group acquired a 51% stake in Tempo Participacoes, the largest independent provider of auto, home and personal assistance services in Brazil, for R$318m. Fernando Borges, co-Head of Carlyle in Brazil, explained the strategic rationale of the acquisition: “Tempo achieved a leadership position by being independent and having a clear focus on the delivery of high-quality services to its customers. We intend to leverage Carlyle’s expertise in the sector through its acquisition in 2011 of RAC, one of the leading and most traditional roadside assistance providers in the UK, to take the company to the next level.”