Debevoise Advises Clayton, Dubilier & Rice and TRANZACT on $1.2 Billion Sale of TRANZACT to Willis Towers Watson

1 April 2019

Debevoise & Plimpton LLP has advised Clayton, Dubilier & Rice and TRANZACT on the sale of TRANZACT to Willis Towers Watson (NASDAQ: WLTW). The total purchase price is $1.2 billion in closing consideration and a potential earn-out of up to $200 million payable by 2021 if certain financial targets are achieved.

As one of the leading players in the direct-to-consumer health care space, TRANZACT employs approximately 1,300 individuals, including 850 licensed agents. TRANZACT combines digital marketing, sales and data science expertise to connect individuals to leading U.S. insurance carriers. TRANZACT currently markets a wide breadth of products including Medicare Advantage, Medicare Supplement, Prescription Drug Plan (PDP) and an array of ancillary products including dental, vision, life and indemnity.

The Debevoise team was led by partners Paul S. Bird and Uri Herzberg and included partners Erin Cleary, Peter A. Furci, Pierre Maugüé, Meir D. Katz, Paul M. Rodel and Jeffrey E. Ross, counsel Christopher Rosekrans, and associates Spencer K. Gilbert, Alexandra P. Grossman, Franklin L. Mitchell, Adam M. Namm, C. Chloe Orlando and Wendy D. Widman.


TRANZACT is a provider of comprehensive, direct-to-consumer sales and marketing solutions for leading insurance carriers in the United States. They leverage digital, data and direct marketing solutions to deliver qualified leads, fully-provisioned sales and robust customer management systems to brands seeking to acquire and manage large numbers of customers.

About Clayton, Dubilier & Rice

Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on producing financial returns by building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $28 billion in 84 businesses representing a broad range of industries with an aggregate transaction value of more than $125 billion. The Firm has offices in New York and London.

About Debevoise & Plimpton

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, applying clear commercial judgment and a distinctively collaborative approach.