Infogroup sale to CCMP Capital imminent: report
Database giant Infogroup is in final negotiations to be acquired by New York-based equity firm CCMP Capital Advisors, the Omaha World-Herald reported on February 26.
Citing sources close to negotiations, the newspaper reported that CCMP submitted the top bid of more than $494 million. Sources also told the newspaper that Dun & Bradstreet was among the bidders, but withdrew its offer earlier this month after it changed leadership.
Lisa Olson, SVP of corporate relations at Infogroup, said that the company has no comment on the report. Representatives from CCMP could not be immediately reached for comment to confirm the report.
One Infogroup executive, however, told DMNews that “it's very close,” suggesting the deal would be finalized at the February 28 board meeting.
Late last year, Infogroup amended CEO Bill Fairfield's contract to renew on a quarterly basis. Infogroup also hired Evercore Partners in December 2008 to evaluate a possible sale. At least 33 companies emerged as potential buyers, according to reports.
The company also rebranded its various companies with a common name and logo designed to eliminate any confusion in the marketplace over its many direct marketing businesses. Infogroup began introducing the new branding to employees in January.
The company laid off 40 employees in late January.