This month’s top deals from around Southern California
Clearlake Capital’s acquisition of Dun & Bradstreet leads March M&A activity in Southern California
Global M&A activity ticked up in 2024 after two years of declines, according to Pitchbook’s annual Global M&A report. With a strong first quarter, activity could increase for two consecutive years for the first time in a decade.
In Southern California, recent deals include several multi-billion transactions led by Los Angeles-based private equity firm Clearlake Capital Group’s proposed acquisition of Dun & Bradstreet for $4.1 billion in cash, plus assumption of debt.
Dun & Bradstreet was founded 184 years ago and has undergone two stints as a private company. Its most recent initial public offering in 2020 valued Dun & Bradstreet at about $9 billion, but its value declined by about 60% prior to Clearlake’s offer of $9.15 per share, which was a 4.8% premium to its prior close.
“We have been on a strategic journey over the past six years, executing a major transformation that has strengthened our business and financial results,” said Anthony Jabbour, chief executive of Dun & Bradstreet, in a statement.
Ares Credit Funds and HSBC also participated in the committed financing for the transaction. The deal is expected to close in the third quarter.
Hawke Media Acquires Blue Light Media
Hawke Media, a leading U.S. performance marketing agency, has announced the acquisition of Blue Light Media, an Orange County-based full-service creative and social marketing agency.
“At Hawke, we believe every brand today must think and operate like a media company to stay competitive,” said Erik Huberman, CEO and founder, Hawke Media. “At the center of that is consistent, quality content – CQC – driving connection, community and performance. Blue Light Media has built its reputation on delivering that level of creative excellence, and we’re thrilled to integrate their expertise as we double down on social-first marketing at scale.”
With the acquisition, Blue Light clients gain access to Hawke Media’s full suite of marketing services, combining creative storytelling with data-driven strategies designed to maximize reach, engagement and business impact.
