CD&R to acquire Focus Financial for over $7bn

• Stone Point has agreed to retain a portion of its investment in Focus and provide new equity financing as part of the proposed transaction
• The transaction is expected to close in the third quarter of 2023
• CD&R and Stone Point’s financial advisors on the deal include Moelis & Company LLC, RBC Capital Markets, Truist Securities, Inc. and BofA Securities

Clayton, Dubilier & Rice has agreed to acquire Focus Financial, a partnership of wealth management firms, in a take-private deal for $53 per share or over $7 billion.

When the deal closes, Focus Financial will stop trading on the NASDAQ.

Stone Point has agreed to retain a portion of its investment in Focus and provide new equity financing as part of the proposed transaction.

“We are enthusiastic about the opportunity to partner with Focus to help grow and develop its exceptional partner firm network,” said CD&R Partner Dan Glaser, on the deal.

The transaction is expected to close in the third quarter of 2023.

Jefferies LLC and Goldman Sachs are serving as financial advisors and Potter Anderson & Corroon LLP is serving as legal counsel to the Special Committee. Vinson & Elkins LLP is serving as legal counsel to Focus.

Moelis & Company LLC, RBC Capital Markets, Truist Securities, Inc., BofA Securities, BMO Capital Markets, Citizens Capital Markets, Inc., Fifth Third Securities, and MUFG are serving as financial advisors to CD&R and Stone Point. Kirkland & Ellis LLP and Debevoise & Plimpton LLP are serving as legal counsel to CD&R on the transaction. Simpson Thacher & Bartlett LLP is serving as legal counsel to Stone Point.

Since its inception in 1978, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of more than $175 billion.

Based in Greenwich, Connecticut, Stone Point has over $45 billion of assets under management.