Dun & Bradstreet has entered into a definitive agreement to be acquired by an investor group led by CC Capital, Cannae Holdings, as well as funds affiliated with Thomas H. Lee Partners, L.P. and a group of other distinguished investors.
According to a statement from William P. Foley II, Chairman of Cannae Holdings, the acquisition will help grow the company, increase operating efficiencies and improve the Dun & Bradstreet customer experience by providing enhanced business solutions.
Thomas J. Manning will take on the role of CEO through the closing of the transaction. James N. Fernandez, a Director at Dun & Bradstreet since 2004 and Lead Director since February 2018, will serve as Chairman of the Board through the closing of the transaction.
“Today’s announcement is the culmination of a thoughtful and comprehensive review of the value creation opportunities available to [Dun & Bradstreet] as part of a full portfolio and business assessment and exploration of strategic alternatives with multiple financial sponsors,” said Manning in a statement. “As a result of this process, the Dun & Bradstreet Board of Directors unanimously determined that this all-cash transaction is in the best interest of our shareholders and our company.”