For $635m, including refinancing of Infogroup’s outstanding indebtedness
CCMP Capital Advisors has agreed to acquire Infogroup, a provider of data-driven and interactive resources for targeted sales, marketing and research offerings, in a transaction with a total value of approximately $635m, including the refinancing of Infogroup’s outstanding indebtedness.
The agreement was approved by the Infogroup Board of Directors based upon the recommendation of the mergers and acquisitions committee. Under the agreement, Infogroup shareholders will receive $8.00 in cash for each share of Infogroup common stock they hold.
Bill Fairfield, chief executive officer of Infogroup, said: Transitioning from a public to a private company brings many benefits to our shareholders, clients and employees. Our shareholders will receive an attractive, immediate and certain cash value for their shares.
“For Infogroup’s clients and employees, the merger will allow for greater stability, focus and flexibility to make the strategic, long-term investments that are needed to advance the company’s leadership position, grow the core business, expand product solution offerings, improve overall cost structures and efficiencies, invest in technology and expand our global reach.
Richard Zannino, CCMP Capital managing director, said: Marketing clients today are craving innovative, impactful and cost-effective ways to reach their target customers. We are very much looking forward to working with the talented team at Infogroup to help its clients meet those needs and to take full advantage of its leading position in the highly attractive data and marketing services sector.
The transaction is anticipated to close early this summer, subject to the approval of Infogroup shareholders, regulatory approvals and customary closing conditions.