M&A Deal Summary

TowerBrook Capital Partners and CD&R Acquire R1 RCM

On August 1, 2024, private equity firms TowerBrook Capital Partners and CD&R acquired information services company R1 RCM for 8.9B USD

Acquisition Highlights
  • This is TowerBrook Capital Partners’ 4th and CD&R’s 1st transaction in the Information Services sector.
  • This is TowerBrook Capital Partners’ and CD&R’s 4th largest (disclosed) transaction.
  • This is TowerBrook Capital Partners’ 44th and CD&R’s 67th transaction in the United States.
  • This is TowerBrook Capital Partners’ 1st and CD&R’s 1st transaction in Utah.

M&A Deal Summary
Date 2024-08-01
Target R1 RCM
Sector Information Services
Buyer(s) TowerBrook Capital Partners
CD&R
Deal Type Going Private
Deal Value 8.9B USD
Advisor(s) Kirkland & Ellis (Legal)

Target

R1 RCM

Murray, Utah, United States
R1 RCM is a provider of services and technology to healthcare providers. The Company helps clients strengthen their financial stability and deliver better care at a more affordable cost to the communities they serve, increasing healthcare access for all. R1 RCM was founded in 2003 and is based in Murray, Utah.

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Buyer(S) 2

Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 17.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.

DEAL STATS #
Overall 99 of 99
Sector (Information Services) 4 of 4
Type (Going Private) 4 of 4
State (Utah) 1 of 1
Country (United States) 44 of 44
Year (2024) 6 of 6
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 JSM Group

Hertfordshire, United Kingdom

JSM Group is an independent connections provider (‘ICP’) focusing on high-voltage works for predominantly Data Center clients in the UK. The Power division provides high-voltage and extra-high-voltage grid connections to its blue-chip base across the data center, battery storage, and renewables markets. The Communications division provides core fiber infrastructure network, data center, and mobile network services to serveral longstanding Communications customers. JSM Group was founded in 1998 and is based in Hertfordshire, United Kingdom.

Buy -
Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 92 of 92
Sector (Information Services) 1 of 1
Type (Going Private) 12 of 12
State (Utah) 1 of 1
Country (United States) 67 of 67
Year (2024) 4 of 4
Size (of disclosed) 4 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 Presidio

New York, New York, United States

Presidio is a technology services and solutions provider that builds traditional IT foundations and offers deep expertise in automation, security, networking, digital transformation, and cloud computing, It develops custom applications, provides managed services, enables actionable data insights, and builds forward-thinking solutions that drive extraordinary outcomes for customers globally. Presidio was founded in 2003 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-14 Cheney Brothers

Riviera Beach, Florida, United States

Cheney Brothers is a family-owned and operated broad line distributor offering over 64,000 stocked items from gourmet to every day. Cheney EXPRESS is open to the public and carries frozen, refrigerated and dry products with carrying out service to your vehicle. Insisting upon top-quality products from nationally recognized manufacturers, Cheney Brothers’ broad inventory consists of more than 50,000 stocked items, from gourmet to every day. Cheney Brothers was formed in 1925 and is based in Riviera Beach, Florida.

Sell $2.1B
Mergr

Product

Company

Legal