Compelo Banking - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

Greenfield Partners to acquire Clayton Holdings

Clayton Holdings, a due diligence and surveillance provider, has entered into a definitive merger agreement under which an affiliate of a fund managed by Greenfield Partners will acquire all of the outstanding common shares of Clayton for $6 per share, or approximately $134 million, plus the repayment of $23.8 million debt.

The transaction, which was approved by Clayton’s board, is subject to shareholder and regulatory approvals and other customary conditions.

The transaction is expected to close in the third quarter of 2008. Investment funds affiliated with TA Associates, which own approximately 37% of Clayton’s outstanding common stock, have agreed to vote in favor of the transaction.

Frank Filipps, chairman and CEO of Clayton Holdings, said: This transaction benefits our shareholders, clients and employees.