On February 8th 2019 the Dun & Bradstreet acquisition was completed by a private investment group led by CC Capital Partners, LLC (“CC Capital”), Cannae Holdings, Inc. (NYSE: CNNE), Bilcar, LLC, Black Knight, Inc. (NYSE: BKI) and funds affiliated with Thomas H. Lee Partners, L.P. (“THL”). Dun & Bradstreet (NYSE: DNB) is a leading international commercial data firm.
Following the closing, Stephen C. Daffron, a Co-Founder of Motive Partners and former President and Chief Executive Officer of Interactive Data Corporation, has been appointed President of Dun & Bradstreet. In addition, William P. Foley II, Chairman of Cannae Holdings and Executive Chairman of Black Knight, has been appointed Executive Chairman of Dun & Bradstreet’s Board of Directors. Anthony Jabbour, Black Knight’s Chief Executive Officer, was appointed Chief Executive Officer of Dun & Bradstreet and will remain in his current role at Black Knight.
“We are pleased to have completed this momentous transaction for the benefit of all stakeholders and look forward to the next chapter in Dun & Bradstreet’s storied, 177-year history,” said Chinh Chu, Senior Managing Director of CC Capital and former Blackstone deal-maker. “With Bill, Anthony and Stephen at the helm, we are confident that we have the best leadership team in place to unlock the Company’s significant potential and create tremendous value.” CC Capital is an investment firm focused on investing is top companies and operating them for the long haul.
“As a private company, Dun & Bradstreet is well positioned to reinvigorate growth and I look forward to partnering with Anthony, Stephen and the Board in my new role,” stated William P. Foley II, Executive Chairman of Dun & Bradstreet’s Board of Directors. “Building on the Company’s strong platform as a global leader in business insights, I look forward to improving growth and customers’ experience, while increasing operating efficiencies to deliver enhanced business solutions across the world.”
“Over the last two decades, members of our investor group have worked extensively with one another, and it is a privilege to partner once again as we solidify Dun & Bradstreet’s leadership position in trade credit and other data analytic businesses,” added Thomas Hagerty, a Managing Director at THL. “I am confident that with the Investor Group’s proven track record and the leadership team’s deep expertise, the Company is poised for continued growth and success.”
Financial advisors to the Investor Group included BofA Merrill Lynch, Citigroup and RBC Capital Markets, and Kirkland & Ellis LLP acted as legal advisor to the Investor Group. J.P. Morgan served as financial advisor to Dun & Bradstreet, and Cleary Gottlieb Steen & Hamilton LLP served as legal counsel.
As of this morning, shares of Dun & Bradstreet common stock stopped trading on the New York Stock Exchange (“NYSE”) due to the completion of the acquisition.