Verisk to sell 3E business to New Mountain Capital for up to $950M
Verisk (NASDAQ:VRSK)
enters into a definitive agreement to sell its 3E business to investment firm New Mountain Capital for a potential aggregate cash consideration of up to $950M.
The purchase price consists of $630M of cash consideration paid at closing, up to $50M of earnout payments based on financial performance in 2023 and 2024, and up to $270M of additional deferred payments based on New Mountainâs future return on its investment.

The deal amount is subject to adjustments for, among other things, working capital and debt of the business at closing.
VRSK intends to return the after-tax proceeds to shareholders through share repurchases.
The 3E business, part of VRSK's energy and specialized markets segment, delivers intelligent compliance solutions.
Verisk acquired 3E in 2010 for $107M and subsequently integrated its 2019 acquisition of Content as a Service (CaaS) into the 3E business.