Deals
CD&R Affiliates Will Acquire Wealth Manager Focus Financial in $7 Billion Deal
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Focus Financial Partners Inc., a partnership of wealth-management firms, agreed to be acquired by affiliates of Clayton, Dubilier & Rice LLC in an all-cash transaction with an enterprise value of more than $7 billion.
Shareholders in New York-based Focus will receive $53 in cash per share, representing a premium of about 36% to the firm’s 60-day average price as of Feb. 1, the day before a potential transaction was announced, the company said in a statement Monday. Funds managed by Stone Point Capital LLC agreed to retain a portion of their investment in Focus and provide new equity financing as part of the deal.