Debevoise & Plimpton LLP is advising Clayton, Dubilier & Rice, a private investment firm, in its acquisition of Capco from FIS, a global leader in financial services technology (NYSE: FIS).

Under the terms of the transaction, FIS will sell an approximately 60% equity interest in its Capco business to CD&R funds and receive cash proceeds of approximately $477 million. FIS will retain an approximately 40% equity interest in the business. The transaction, which includes other consulting-related assets, is expected to close by early third quarter.

Capco, the public brand for FIS’ management consulting offering, is a global consulting organization specializing in business, digital and technology consulting services for the financial services industry. Upon closing, Capco will become a privately held company operating under the Capco name.

The Debevoise team is led by partners Paul S. Bird and Uri Herzberg and includes partners Peter A. Furci, Meir D. Katz, Henry Lebowitz and Scott Selinger and associates David P. Iozzi, Maria B. Navarro, Giselle Alvarado, Valerie A. Campbell, Erin Cleary, Christine Shu Gilleland, Michelle Hillenbrand, Ashley J. Shapero, Tricia Bozyk Sherno and Lena E. Smith.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges.