Aviva has sold the vehicle support businesses of RAC to VT Group for a total cash consideration of £87m.
VT Group will pay £54.4m for the net equity of the businesses, and £32.6m to settle debt owed to Aviva group companies.
The four business are Lex Transfleet, Lex Defence, Lex Defence Management and RAC Software Solutions.
The businesses provide outsourced solutions for fleets primarily in the defence, airside and emergency services sectors.
Aviva executive director Patrick Snowball said the sale is in line with the company's stated strategy to focus on its core business, which is providing insurance and related services.
VT Group said the businesses had a total turnover of £140m for the year ended 31 December, 2005. Profit before interest and tax was £10.3m with a total order book in excess of £1.25bn. The businesses have gross assets of £81.3m.
VT Group said the deal will be funded from a combination of the group's existing cash balances and a new debt facility.
