Stone Point Capital and Insight Partners Complete Acquisition of CoreLogic
June 04 2021 - 8:47AM
Business Wire
CoreLogic®, a leading global property information, analytics and
data-enabled solutions provider, today announced the completion of
its acquisition by funds managed by Stone Point Capital and Insight
Partners for $80 per share in cash. CoreLogic’s common stock has
ceased trading on the New York Stock Exchange.
CoreLogic will continue to be headquartered in Irvine,
California, and the Company’s management team led by President and
CEO Frank Martell will remain in place and continue to operate
CoreLogic as a private company.
Frank Martell said, “Today marks a major milestone in
CoreLogic’s history as we move to capture the many opportunities in
front of us to accelerate our growth and transformation as a
privately held firm. The entire team is excited and looking forward
to working closely with Stone Point and Insight Partners to build
on our record financial and operating performance and deliver
solutions that help millions of people find, buy, and protect their
homes each year.”
Chuck Davis, CEO of Stone Point Capital, said, “Stone Point is
thrilled to work with the CoreLogic leadership team to support the
Company’s next phase of growth. CoreLogic is a mission-critical
vendor and data provider across industry sectors in which Stone
Point has specialized over the past 20 years, including mortgage,
residential real estate and P&C insurance. We believe our
financial services domain expertise and our partnership with the
management team can accelerate CoreLogic’s momentum as it delivers
new innovative solutions to its customers.”
Deven Parekh, Managing Director at Insight Partners, said, “We
are excited to partner with the talented team at CoreLogic as the
company continues to innovate across the real estate ecosystem.
Insight Partners has a strong track record of partnering with
market-transforming companies like CoreLogic, and we look forward
to active involvement in this next chapter in its evolution.”
Evercore acted as financial advisor to CoreLogic and Skadden,
Arps, Slate, Meagher & Flom LLP acted as the Company’s legal
advisor. J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
acted as financial advisors to Stone Point Capital and Insight
Partners. Kirkland & Ellis acted as legal advisor to Stone
Point Capital and Willkie Farr and Gallagher acted as legal advisor
to Insight Partners.
CLGX-F
About CoreLogic
CoreLogic, a leading provider of property insights and
solutions, promotes a healthy housing market and thriving
communities. Through its enhanced property data solutions, services
and technologies, CoreLogic enables real estate professionals,
financial institutions, insurance carriers, government agencies and
other housing market participants to help millions of people find,
buy, and protect their homes. For more information, please visit
www.corelogic.com.
About Stone Point Capital
Stone Point is an investment firm based in Greenwich, CT, with
approximately $30 billion of assets under management. Stone Point
targets investments in companies in the global financial services
industry and related sectors. The firm invests in a number of
alternative asset classes, including private equity through its
flagship Trident Funds. Stone Point also manages both liquid and
private credit funds and managed accounts. In addition, Stone Point
Capital Markets supports our firm, portfolio companies and other
clients by providing dedicated financing solutions. For more
information, please visit www.stonepoint.com.
About Insight Partners
Insight Partners is a leading global venture capital and private
equity firm investing in high-growth technology and software
ScaleUp companies that are driving transformative change in their
industries. Founded in 1995, Insight Partners has invested in more
than 400 companies worldwide and has raised through a series of
funds more than $30 billion in capital commitments. Insight’s
mission is to find, fund, and work successfully with visionary
executives, providing them with practical, hands-on software
expertise to foster long-term success. Across its people and its
portfolio, Insight encourages a culture around a belief that
ScaleUp companies and growth create opportunity for all. For more
information on Insight and all its investments, visit
insightpartners.com or follow us on Twitter @insightpartners.
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version on businesswire.com: https://www.businesswire.com/news/home/20210604005347/en/
CoreLogic Contacts: Investors: Dan
Smith 703-610-5410 danlsmith@corelogic.com
Media: Sard Verbinnen & Co. George Sard/Robin Weinberg/Devin
Broda CoreLogic-SVC@SARDVERB.com
Stone Point Capital Contact: Mary
Catherine Manin (203) 862-3126 mmanin@stonepoint.com
Insight Partners Contact: Nikki
Parker (571) 353-4237 nparker@insightpartners.com
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