Dun & Bradstreet to be acquired by private equity

The buyers are led by CC Capital, Cannae Holdings and funds affiliated with Thomas H. Lee Partners, among others. The deal will see Dun & Bradstreet shareholders receive $145.00 in cash for each of their common stock shares.

The transaction includes the assumption of $1.5bn of the company’s net debt and pension obligations.

Dun & Bradstreet was founded in the 1800s and is headquartered in Short Hills, New Jersey. The company’s data cloud holds 300 million business records.

Thomas Manning, Dun & Bradstreet’s interim chairman and chief executive, will lead the company through the transaction, which is expected to close within six months, subject to shareholder approval and mandatory clearances.

James Fernandez, a director of the company and lead director since February 2018, will serve as chairman of the board until the deal has closed.

The merger agreement includes a ‘go-shop’ period of 45 days, during which Dun & Bradstreet is allowed to seek out and potentially enter into negotiations with other interested parties.

Manning said: “The announcement is the culmination of a thoughtful and comprehensive review of the value creation opportunities available to the company as part of a full portfolio and business assessment and exploration of strategic alternatives with multiple financial sponsors. As a result of this process, the Dun & Bradstreet board of directors unanimously determined that this all-cash transaction with the investor group is in the best interest of our shareholders and our company.”

Chinh Chu, senior managing director and founder of CC Capital, said: “Dun & Bradstreet is a high-quality business with a 177-year history of serving its global customer base. We look forward to working with our partners and Dun & Bradstreet’s talented team to unlock the immense potential within this venerable company.”