Dun & Bradstreet (NYSE: DNB) today announced it is shifting its Australia/New Zealand (ANZ) business to a Worldwide Network partner model. Archer Capital, a leading Australian private equity firm – via its newly-formed Credit Data Solutions* business – will acquire the entirety of Dun & Bradstreet’s ANZ business, including consumer risk and debt collection, and commercial solutions, for AUD $220 million.
As part of the agreement, pending regulatory approval, Credit Data Solutions will become a partner within Dun & Bradstreet’s Worldwide Network to continue to provide commercial solutions in the region. This decision supports Dun & Bradstreet’s long-term growth strategy. Today, approximately two-thirds of the ANZ business is consumer-related, which is inconsistent with Dun & Bradstreet’s established business-to-business focus.
“We’re excited to welcome Archer Capital’s Credit Data Solutions as the newest member of our Worldwide Network. Our partnership allows us to maintain a strong commercial foothold in the market, and we’re delighted to have a partner that will help us expand our presence there,” said Bob Carrigan, chief executive officer & president, Dun & Bradstreet.
“As Dun & Bradstreet continues to drive toward long-term sustainable growth by focusing on commercial solutions, it no longer made strategic sense to support a consumer business that does not align with that goal.”
Archer Capital’s Frank Heckes said: “We believe there are many opportunities to invest in and grow each of these businesses. We are looking forward to working closely with the Dun & Bradstreet ANZ management team and to being a valuable member of Dun & Bradstreet’s Worldwide Network.”
After the transaction closes, Credit Data Solutions will become a partner within Dun & Bradstreet’s expansive Worldwide Network, joining nearly 25 other partners on four continents to ensure commercial customers maintain seamless access to Dun & Bradstreet’s worldwide business information. The partnership will preserve Dun & Bradstreet’s established business-to-business presence in the market for commercial solutions.
Dun & Bradstreet was advised by Gresham and Minter Ellison. Archer Capital was advised by Houlihan Lokey and Johnson Winter & Slattery.
About Archer Capital
Archer Capital is one of Australia’s leading private equity firms, with $2 billion in funds under management and a track record of delivering strong returns to its investors since 1997. Since inception Archer Capital’s Partners and executives have closed over 30 acquisitions involving total aggregate funding in excess of $5 billion.
* Credit Data Solutions Pty Ltd is wholly owned by the constituent funds managed or advised by Archer Capital.
D&B has switched to a partnership model about 15 years ago and reacquired the company in August of 2010