Dun & Bradstreet Privatization

Dun & Bradstreet Logo

Dun & Bradstreet completed its privatization Friday morning.  The firm is now controlled by CC Capital, Cannae Holdings, Bilcar, LLC, Black Knight, Inc. and funds affiliated with Thomas H. Lee Partners, L.P.  The original offer was tendered on August 8, 2018.

As previously announced, the firm will be led by new CEO Anthony Jabbour and new President Stephen C. Daffron.  William P. Foley II has been named the Executive Chairman of Dun & Bradstreet’s Board of Directors.

The new leadership team indicated that the mission of the firm, “to help our customers improve their business performance through data and insights,” is unchanged.  Likewise, there are no significant changes in direction. “We plan to invest in several key areas to strengthen our core data assets, create high-value analytics, enhance our technological capabilities, and deliver a top-notch customer experience.”

The firm is positioning privatization as a strategic advantage.  “We now have greater flexibility to build a competitive advantage in the vibrant market for data and insights; an edge that we are confident will benefit our customers. Now more than ever, we will have the opportunity to offer solutions to accelerate revenue, reduce cost, manage risk and transform businesses. We plan to invest in several key areas to strengthen our core data assets, create high-value analytics, enhance our technological capabilities, and deliver a top-notch customer experience.”

“For 177 years, our mission has been to help customers leverage data and insights to improve business performance. The next evolution of Dun & Bradstreet’s history will expand the value we bring to our customers around the globe. The journey ahead is a big one for all of us, and the potential, vast. Our executive team and employees around the globe are excited to work with our customers and partners on this next chapter in our iconic brand’s history.”


Dun & Bradstreet Announcement

Dun & Bradstreet was purchased by the investor group for $145 per share ($6.9 billion when including acquired debt of $1.5 billion)

Dun & Bradstreet posted $1.7 billion in 2017 revenue.  The firm employs 4,900 globally and provides risk management (supplier and credit risk) and sales & marketing services. Key product include RMI, D&B Hoovers, D&B Optimizer, and Audience Solutions. Its D-U-N-S Numbering system is the de facto global company numbering system and often required by banks and federal contracting. Other key assets include their global company linkages and the WorldBase file of 300 million active and inactive companies.

Dun & Bradstreet Privatization Update

Dun & Bradstreet Logo
Dun & Bradstreet Logo

Dun & Bradstreet continues to dribble out news about its privatization plan.  Last week the firm announced that Motive Partners has joined the acquisition group and that Stephen C. Daffron, Co-Founder and Industry Partner of Motive Partners, will assume the role of President upon transaction close.

Two weeks ago Black Knight announced that it is acquiring a $375 million stake in Dun & Bradstreet.  Once the transaction closes, Anthony Jabbour, Black Knight’s CEO, will assume the Dun & Bradstreet CEO position. Black Knight’s Executive Chairman William P. Foley II will serve in a similar position at Dun & Bradstreet.

Black Knight describes itself as “a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.”

“With an impressive 177-year legacy and the support of a phenomenal group of investors, Dun & Bradstreet is entering an important next chapter in its evolution as a company.  I am excited by the opportunities in leading Dun & Bradstreet and look forward to working closely with management, Bill and the rest of the consortium and continuing the Company’s long history of excellence in helping customers and partners around the world.”

Anthony Jabbour, Incoming CEO of Dun & Bradstreet

Dun & Bradstreet shareholders have already approved the $6.5 billion transaction which is expected to close no later than Q1 2019.  Other investors include CC Capital, Cannae Holdings and Thomas H. Lee Partners, L.P. 

Last month, Dun & Bradstreet shareholders approved the deal.  Dun & Bradstreet still needs approval from the Russian Federal Antimonopoly Service and the UK Financial Conduct Authority.

Motive is a sector specialist investment firm focused on technology-enabled financial services companies.

Daffron served as the CEO of Interactive Data and held senior positions at Morgan Stanley, Renaissance Technologies, Goldman Sachs and Motive Partners.

“I am excited by this unique opportunity to work side-by-side with Anthony [Jabbour] in leading Dun & Bradstreet and look forward to working closely with management, Bill [Foley] and the rest of the investor consortium to help unlock the value within this renowned company,” said Daffron.  “Dun & Bradstreet is entering an important chapter in its evolution as a company and will be well positioned as a private company to increase operating efficiencies and effectively execute the company’s growth strategy.”