THL-led group completes buyout of AmeriLife

An investor group led by Thomas H. Lee Partners has closed its previously announced acquisition via a recapitalization of insurance distributor AmeriLife.

An investor group led by Thomas H. Lee Partners has closed its previously announced acquisition via a recapitalization of insurance distributor AmeriLife. The seller was J.C. Flowers. The THL-led consortium included Cannae Holdings and certain THL limited partners. No financial terms were disclosed. As a result of this transaction, Scott R. Perry is now CEO of AmeriLife and chairman of the board of directors.

PRESS RELEASE

LAS VEGAS–(BUSINESS WIRE)–Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) today announced that AmeriLife Group, LLC (“AmeriLife”), the national leader in marketing and distributing life, health, and retirement solutions, has completed the previously announced agreement with an investor group led by Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies, Cannae Holdings, Inc. and certain THL limited partners, effective March 18, 2020. THL acquired a majority stake from J.C.Flowers & Co., LLC (“J.C. Flowers”), a leading private investment firm dedicated to investing globally in the financial services industry, and other investors.

As part of the transaction, the Board of Directors under J.C. Flowers retires effective immediately, including the chairman, Timothy O. North. Tim provided decades of leadership and innovation for the company, as the CEO until his retirement in January 2017, and then as Chairman of the Board of Directors. Scott R. Perry now assumes the role of both Chairman of the Board of Directors and CEO of AmeriLife.

About Cannae Holdings, Inc.
Cannae (NYSE:CNNE) is a diversified holding company which boasts a strong track record of both operating and investing in a diverse range of assets. Cannae holds majority and minority equity investment stakes in a number of entities, including Ceridian HCM Holding Inc., The Dun & Bradstreet Corporation, 99 Restaurants Holdings, LLC, O’Charley’s, LLC, and Coding Solutions Topco, Inc. (inclusive of T-System Holding, LLC). More information about Cannae can be found at www.cannaeholdings.com.