Clayton, Dubilier & Rice Completes Acquisition of Focus Financial Partners

NEW YORK, NY / ACCESSWIRE / August 31, 2023 / Focus Financial Partners Inc. ("Focus" or the "Company"), a leading partnership of independent, fiduciary wealth management firms, Clayton, Dubilier & Rice, LLC ("CD&R"), and Stone Point Capital LLC ("Stone Point") today announced that they have completed the previously announced acquisition of Focus by funds affiliated with CD&R and Stone Point in an all-cash transaction for an enterprise value in excess of $7 billion.

"We are thrilled to mark this significant achievement in Focus's journey," said Rudy Adolf, Founder and CEO of Focus. "Our partnership with CD&R and Stone Point opens doors to new opportunities, enhanced resources, and increased value for our partner firms and their clients. We look forward to this next chapter of growth and evolution."

"We are excited to work alongside the Focus leadership team to build on the tremendous foundation they have already established by investing in the Company's capabilities, operations and talent within Focus and across its partner firms," said Dan Glaser, Chairman of Focus and an Operating Partner at CD&R. "We have deep appreciation for the entrepreneurial flair that exists within Focus, and we look forward to weaving the partnership closer together with a common purpose, shared capabilities and greater collaboration."

"We look forward to continuing to work with the Focus team as they take advantage of the enhanced financial and operating flexibility they will have as a private company," said Fayez Muhtadie, Managing Director and Co-Head of Private Equity at Stone Point. "As a leader in independent wealth management, Focus is uniquely positioned to capitalize on the trends driving industry growth and consolidation."

With the completion of the transaction, Focus's common stock has ceased trading and is no longer listed on NASDAQ.

Advisors

Jefferies LLC and Goldman Sachs & Co. LLC served as financial advisors and Potter Anderson & Corroon LLP served as legal counsel to the Special Committee of the Focus Board of Directors. Vinson & Elkins LLP, K&L Gates LLP and Davis Wright Tremaine LLP served as legal counsel to Focus.

Moelis & Company LLC, RBC Capital Markets, Truist Securities, Inc., BofA Securities, BMO Capital Markets, Citizens Capital Markets, Inc., Fifth Third Securities, and MUFG served as financial advisors to CD&R and Stone Point. Kirkland & Ellis LLP and Debevoise & Plimpton LLP served as legal counsel to CD&R on the transaction. Simpson Thacher & Bartlett LLP served as legal counsel to Stone Point.