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DOW JONES NEWSWIRES
The private equity arm of Goldman Sachs Group Inc. (GS) and Advent International plan to acquire credit-reporing firm TransUnion LLC in a deal valuing it at over $3 billion.
The transaction, expected to close late in the first quarter or early in the second, would see TransUnion swap private owners. Current stockholders include private-equity firm Madison Dearborn Partners and Chicago's Pritzker family. The Pritzker family sold a 51% stake in TransUnion to Madison Dearborn in 2010.
Focus has been heavy on an initial public offering from the company, which keeps and scores credit-profile data on about 500 million consumers and businesses worldwide, after it filed preliminary plans in July to go public. The company registered for as much as $325 million in its initial filing, which generally serves as a placeholder and is used to calculate the registration fee.
The firms on Friday said TransUnion President and Chief Executive Bobby Mehta and the rest of its management will remain with the company following the ownership shift.
"TransUnion is a high-quality organization with market-leading product offerings and a strong management team. We are very excited to partner with Advent and the management team on this investment," said Sumit Rajpal, a managing director at GS Capital Partners.
Copyright © 2012 Dow Jones Newswires
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