Venerable private markets data and analytics giant Dun & Bradstreet has agreed to be acquired in a US$7.7 billion deal that will be partly funded by a debt and equity.
Californian investment private-equity firm Clearlake Capital’s acquisition will take the 184-year old Wall Street company private four years after beginning its second spell as a listed firm.
Dun & Bradstreet is among the largest providers of data and analytics covering private equity and private credit and is also relied upon by investor for its DUNS Number identifiers, paid-for unique identity codes that are used by millions of companies around the world.
The deal comes as the company’s stock languishes 60 per cent below its 2020 listing price, according to Reuters data. Nevertheless, Dun and Bradstreet has found new business as investment in private markets by institutional investors grows. Among its most recent developments, the company has collaborated with LSEG to help the London Stock Exchange operator better compete in the privates data market.
“Dun and Bradstreet has built a trusted, globally recognised brand and has amassed a preeminent set of data and analytics that empower organisations of all sizes,” Clearlake co-founder and managing partner Behdad Eghbali and partner James Pade said in a statement.
“As companies become more data-centric in their decisioning in this fast-paced world, we see vast potential for Dun and Bradstreet to deliver AI-powered solutions to their global client base.”
The deal is “go-shop” arrangement, which permits Dun & Bradstreet to seek better deals from alternative buyers within 30 days of the transaction’s agreement.
According to Bloomberg News, Clearlake sought a $5.75bn bridging loan to fund the acquisition. That’s expected to be converted into longer-term financing via the bonds or leveraged loans markets.
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