Clearlake Capital has completed its acquisition of Dun & Bradstreet at an enterprise valuation of $7.7 billion and an equity valuation of $4.1 billion. This transaction was first disclosed in March 2025 and approved by shareholders in June 2025.
Dun & Bradstreet is a provider of business data and analytics used to manage risk, improve performance, and identify growth opportunities. The company’s D‑U‑N‑S® Number is used for identity verification and supports the company’s other services such as risk assessment, B2B marketing data, and enterprise data management—for example, helping financial institutions assess creditworthiness or enabling manufacturers to maintain accurate supplier records. Customers of D&B include financial institutions, government agencies, and corporations that use its products to enhance compliance, credit evaluation, and B2B marketing.
Dun & Bradstreet was founded in 1841 by Lewis Tappan and is today led by CEO Anthony Jabbour. In February 2019, CC Capital, Cannae Holdings, and Thomas H. Lee Partners acquired the company in a take-private transaction at a $6.9 billion enterprise value. The investor group aimed to restructure and modernize the company’s operations. In July 2020, D&B returned to the public markets via an IPO that valued the company at approximately $8.4 billion.
According to D&B, it has undergone a multiyear transformation since 2019, improving revenue by 40%, EBITDA by 60%, and reducing leverage from 9x to 3.6x. For the twelve months ending June 2025, D&B had EBITDA of $788 million. Based on the $7.7 billion enterprise valuation, this results in a valuation multiple of 9.8x.
D&B is headquartered in Jacksonville, Florida, with additional U.S. operations in Massachusetts, New Jersey, and Pennsylvania, and international offices in the U.K., India, Ireland, and China.
“This acquisition represents a new chapter in Dun & Bradstreet’s long history, as we work together to unlock new growth and innovation opportunities,” said the company in a released statement.
This transaction, one of the larger take-privates in the business services sector this year, includes participation from numerous lenders and advisors. Financial advisers to Clearlake included Morgan Stanley, Goldman Sachs, JP Morgan, Rothschild & Co., Barclays, Citi, Deutsche Bank, Santander, and Wells Fargo. Financing was arranged by Ares Capital Management, Morgan Stanley, Golub Capital, Blue Owl Credit, and Clearlake.
Clearlake Capital invests in industrials and energy, software and technology-enabled services, and consumer sectors. The firm was co-founded by José Feliciano and Behdad Eghbali in 2006 and is headquartered in Santa Monica, California.
In May 2022, Clearlake held a hard cap and oversubscribed final close of its seventh private equity fund, Clearlake Capital Partners VII LP, with $14.1 billion in commitments. The firm has been fundraising for Fund VIII with a target of $15 billion but has not yet had a final close.
© 2025 Private Equity Professional | September 4, 2025
Clearlake Capital has completed its acquisition of Dun & Bradstreet at an enterprise valuation of $7.7 billion and an equity valuation of $4.1 billion. This transaction was first disclosed in March 2025 and approved by shareholders in June 2025.
