RTTNews | Sep 7, 2021 10:16AM EDT

10:16 Tuesday, September 7, 2021 (RTTNews.com) - Duchossois Group agreed to sell Chamberlain Group LLC to private equity funds managed by Blackstone. The transaction values Chamberlain Group at about $5 billion.

Following the close of the transaction, Chamberlain Group would remain a privately held company headquartered in Oak Brook, Ill.

As part of the deal, Duchossois Group will retain meaningful ownership in Chamberlain Group and two seats on Chamberlain Group's Board of Directors following the close of the transaction.

The transaction is expected to close by the end of 2021, subject to regulatory approvals and customary closing conditions.

Blackstone is expected to provide additional resources and expertise for Chamberlain Group to scale its software-based and connected services business into new markets.

Read the original article on RTTNews ( https://www.rttnews.com/3223761/duchossois-to-sell-chamberlain-group-to-blackstone-quick-facts.aspx)

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