Chicago-Based Madison Dearborn Partners, LLC to Become Majority Shareholder in TransUnion Corp. in Partnership with the Pritzker Family
TransUnion, a global leader in credit and information management has announced that the Pritzker family business interests have reached an agreement with Chicago-based Madison Dearborn Partners, LLC. Under the terms of the agreement, Madison Dearborn Partners will acquire a 51 percent equity stake in TransUnion. The Pritzker family business interests will retain approximately 49 percent ownership of the Company.
“Madison Dearborn Partners and the Pritzker family share a long-term view of TransUnion and a belief that our partnership, combined with the strength of TransUnion’s leadership and dedicated team of associates, will be a catalyst for the acceleration of TransUnion’s strategy and growth,” said Penny Pritzker, Chair of TransUnion.
“We look forward to partnering with the Madison Dearborn Partners team to capitalize on the numerous growth opportunities before us.”
“We will continue to enjoy the support and guidance that the Pritzker family has provided and we will add the resources, network and expertise of Madison Dearborn Partners,” said Bobby Mehta, President and Chief Executive Officer of TransUnion. “This is a powerful combination and will truly enable us to accelerate the execution of our strategy and deliver valuable solutions to help our customers achieve their goals.”
Madison Dearborn Partners’ objective is to invest in and partner with companies that have strong management teams and business strategies to achieve significant, long-term appreciation in value.
"TransUnion is a remarkable Company, with an extensive global reach, diverse service offerings and a strong management team,” said Tim Hurd, a Managing Director for Madison Dearborn Partners. “The Company is a market-leader in an industry that has played and will continue to play a critical role in the global economy- helping businesses to better manage risk and improve decision making and consumers to understand and manage their credit. We look forward to partnering with the Pritzker family business interests and to investing in TransUnion's future to support its strategy for diversification and growth."
Terms of the agreement were not disclosed. Closing of the transaction is subject to satisfaction of customary conditions to closing and regulatory approvals.
Morgan Stanley & Co. Inc. acted as financial advisor to the Company. The Pritzker Organization, LLC and BDT & Company, LLC acted as financial advisors to the selling stockholders and Latham & Watkins, LLP acted as legal advisor to the Company and the selling stockholders.
BofA Merrill Lynch, Deutsche Bank Securities Inc., and J.P. Morgan Securities Inc. acted as financial advisors to Madison Dearborn Partners. Kirkland & Ellis, LLP acted as legal advisor to Madison Dearborn Partners.
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