TransUnion Corp. has filed for an initial public offering. No terms have been set other than an offering of up to $325 million for filing purposes. The credit analysis company has not even designated a stock ticker and has not decided between the NYSE or NASDAQ.
What TransUnion has set is its underwriting group and it is a fairly large one. The prospectus lists BofA Merrill Lynch, J.P. Morgan, Deutsche Bank, Credit Suisse, and Morgan Stanley as its underwriters. TransUnion intends to use the net proceeds from the proposed initial public offering to repay indebtedness and for working capital and other general corporate purposes.
The company is a provider of information and risk management solutions to businesses across multiple industries and to individual consumers. Its technology and services allow timely and informed decisions for granting credit, risk management, underwriting, fraud protection and customer acquisition decisions.
TransUnion also has operations in the United States, Africa, Canada, Latin America, East Asia and India and provide services in 23 countries. The company was founded in 1968.
For 2010, its revenues were $956.5 million, and for the first quarter of 2011 its revenues were $245.9 million. The company also reported adjusted EBITDA of $326.6 million for 2010, and adjusted EBITDA was $79.3 million for the three months ended March 31, 2011.
The company is private equity owned and owned by 50.9% by Madison Dearborn Capital Partners. It is 37.5% owned by Thomas J. Pritzker, Marshall E. Eisenberg and Karl J. Breyer, in their capacity as co-trustees. Another 10.6% is listed as being owned by CIBC Trust Company (Bahamas), but that is actually held of record “by non-U.S. situs trusts for the benefit of certain lineal descendants of Nicholas J. Pritzker, deceased, including Ms. Penny Pritzker, one of our directors, and her immediate family members.”
JON C. OGG
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