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CD&R Sells Direct-To-Consumer Insurance Marketing Platform

Willis Towers Watson Acquires TRANZACT for $1.3 Billion

Tuesday, July 30, 2019
New York, NY

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). The total purchase price was $1.3 billion.

Under CD&R’s ownership, TRANZACT capitalized on rapid growth in its core Medicare markets.  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. The company integrates expertise in technology, marketing, lead generation, and sales execution to connect individual consumers to leading U.S. insurance carriers and help those consumers identify the right insurance option for their needs. 

“The TRANZACT management team under the leadership of David Graf built a world-class business with an incredible culture and a deep commitment to serving its customers with innovative solutions,” said David Wasserman, CD&R Partner. “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. “The result is an outstanding outcome for CD&R’s investors, and we believe integration into the Willis Towers Watson platform will open up significant new opportunities for TRANZACT’s future growth.” 

CD&R Operating Partner Russ Fradin served as Chairman of the company during the Firm’s ownership period, which began in 2016. Over the past four years, CD&R funds have invested $2.7 billion in tech-enabled businesses, or approximately 40% of the funds’ total capital invested in that period.