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Saturday, November 28, 2020

Chinh Chu of CC Capital Leads Consortium in Dun & Bradstreet (NYSE:DNB) Acquisition

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Chinh Chu, Senior Managing Director and Founder of CC Capital Partners, LLC has been busy this year. Prominently, he and his team were recently highlighted in the financial media after bringing together a consortium of investors, including Cannae Holdings, Inc. (NYSE:CNNE), Bilcar, LLC, Black Knight, Inc. (NYSE:BKI), and funds affiliated with Thomas H. Lee Partners, L.P., along with a group of other investors, to acquire Dun & Bradstreet (NYSE:DNB), a global leader in commercial data, analytics, and insights for businesses.

Following the closing of the acquisition, the Chairman of Cannae Holdings, William P. Foley II, who also happens to be the Executive Chairman of Black Knight, reported that he has been appointed Executive Chairman of the Board of Directors at Dun & Bradstreet.

But he wasn’t the only Black Knight executive to move into a prominent position in the acquired entity — the CEO, Anthony Jabbour, also joined the top team at DNB, assuming the title of CEO in the new arrangement.

He was joined by Stephen C. Daffron, a Co-Founder of Motive Partners and former President and CEO of Interactive Data Corporation, who landed the spot of President of Dun & Bradstreet.

“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 Mr. Chu. “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.”

“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.”

To help steer the process on a glide path to success, the group of investors jointly acquiring the venerable DNB had several advantages. First off, the group was stacked with experience and talent, including advisors from BofA Merrill Lynch, Citigroup, and RBC Capital Markets, and legal advisors from Kirkland & Ellis LLP.

On the other side of the table, J.P. Morgan advised Dun & Bradstreet, while DNB’s legal counsel came from folks at Cleary Gottlieb Steen & Hamilton LLP.

The final completion of the transaction on February 8, 2019, served to close out trading of shares in DNB on the NYSE.

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