Clayton, Dubilier & Rice closes $1.3 bln Tranzact sale
Summary
Clayton, Dubilier & Rice said July 30 that it completed the sale of Tranzact to Willis Towers Watson for $1.3 billion. Clayton, Dubilier & Rice Sells Direct-To-Consumer Insurance Marketing Platform Willis Towers Watson Acquires TRANZACT for $1.3 Billion New York, NY, July 30, 2019 — Clayton, Dubilier & Rice today completed the sale of TRANZACT, a leading provider of comprehensive direct-to-consumer sales and marketing solutions for individual Medicare and Life insurance policies across the US, to Willis Towers Watson (NASDAQ: WLTW). TRANZACT’s success was supported by the company’s strong leadership team, entrepreneurial culture, and significant investments in its portfolio of differentiated technology and analytics capabilities. As a leader in direct-to-consumer insurance sales, TRANZACT today employs approximately 1,300 individuals, including 850 licensed agents. “We are thrilled to have worked with this team and see a very bright future for TRANZACT as part of Willis Towers Watson.” “TRANZACT is a textbook example of an innovative service business, underpinned by cutting edge technology and analytics, partnering with CD&R to accelerate growth,” said Stephen Shapiro, Partner at CD&R.