Infogroup finalizes its sale, taps Hart as CEO

By Published on .

Omaha, Neb.—Database marketing holding company Infogroup Inc. has closed its sale to New York private equity company CCMP Capital Advisors and returned to private-company status. Shareholders voted to approve the sale earlier this week.

The price was $635 million, or $8 a share, which includes the refinancing of Infogroup’s outstanding indebtedness.

Clare Hart was named the company’s president-CEO. Hart most recently served as president of the Dow Jones Enterprise Media Group. Hart resigned from Dow Jones in January following a management shakeup.

Richard Zannino, CCMP managing director and former Dow Jones CEO, was named chairman of Infogroup’s board.

Hart succeeds Bill Fairfield, who stepped into the company’s leadership position in 2008 following the departure of former CEO and company founder Vinod Gupta. Gupta, the company’s largest shareholder, resigned his position in the midst of shareholder litigation. This week he voted his remaining 12.7 million Infogroup shares in support of the sale.

Infogroup units include database and sales-lead companies Direct Media/Millard, Edith Roman, InfoUSA, and Walter Karl; e-mail service provider Yesmail; and demographic research company Opinion Research Corp.

Most Popular
In this article: