A California investment company is buying Jacksonville-based Dun & Bradstreet Holdings for $7.7 billion in an agreement announced Monday.
Clearlake Capital Group L.P. will pay $9.15 per share of common stock. Once the sale is complete, Dun & Bradstreet will become a privately held company with no shares of common stock listed on any public market.
Dun & Bradstreet moved to Jacksonville in 2021 after an investment group led by Fidelity National Financial Chairman Bill Foley acquired the company in 2019.
The company did not say whether its Gate Parkway headquarters would be moved. Clearlake leaders said that they see “vast potential” for Dun & Bradstreet to deliver AI-powered solutions to their global client base.
The Clearlake statement also said the buyers are excited to partner with Dun & Bradstreet CEO Anthony Jabbour.
Jabbour said the company has executed “a major transformation” in recent years that has strengthened its business and financial results.
The new buyer will take over a financially healthy company, Jabbour said. Earnings have risen about 40%, and EBITA — earnings before interest, taxes, depreciation and amortisation — are up by 60%.
Mayor Donna Deegan noted Dun & Bradstreet’s impact on Jacksonville’s economy. She said was optimistic about the company’s presence in Jacksonville.
“We have not received any indication that this will change under new ownership,” Deegan said in a statement. “It’s a positive sign that CEO Anthony Jabbour is staying on. He has been a fantastic partner over the years.”
The sale to Clearlake is expected to close by this fall. It is subject to approval by Dun & Bradstreet shareholders, regulatory clearances and other closing conditions.
The sales agreement also gives Dun & Bradstreet 30 days to seek a higher offer.
