Clearlake Capital has agreed to acquire publicly traded Dun & Bradstreet at an enterprise valuation of $7.7 billion and an equity valuation of $4.1 billion. This transaction has been unanimously approved by Dun & Bradstreet’s board of directors.
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 underpins offerings in 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. The company 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.
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 December 2024, D&B had EBITDA of $780 million. Based on the $7.7 billion enterprise valuation, this results in a valuation multiple of 9.9x.
“We have been on a strategic journey over the last six years, executing a major transformation that has strengthened our business and financial results. We have grown revenue by approximately 40%, EBITDA by 60%, expanded margins by nearly 600 basis points, and leverage has come down from 9 times to 3.6 times, all while extending our lead in data breadth, depth and quality,” said Mr. Jabbour. “We are pleased to be partnering with Clearlake on this new leg of that journey. With their support, our team looks forward to evolving and growing the company with new ways to put our trusted, proprietary and mission-critical data assets to work for our clients.”
The acquisition will be financed through a combination of equity and debt. Ares Credit Funds and HSBC are among the committed lenders, while Morgan Stanley, Goldman Sachs, JP Morgan, Rothschild & Co, Barclays, Citi, Deutsche Bank, Santander, and Wells Fargo are serving as financial advisors to Clearlake. BofA Securities is the financial advisor to Dun & Bradstreet.
Per the agreement, Dun & Bradstreet will conduct a 30-day “go-shop” period during which it may solicit proposals from other potential acquirers.
“As companies become more data-centric in their decisioning in this fast-paced world, we see vast potential for Dun & Bradstreet to deliver AI-powered solutions to their global client base,” said Behdad Eghbali, a co-founder and managing partner, and James Pade, a partner at Clearlake in a released statement. “We are excited to partner with Anthony and his team to support the company in unlocking its full potential.”
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.
© 2025 Private Equity Professional | March 25, 2025
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Houston-headquartered 
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Chicago-based 
