When Advent International partnered with TransUnion in 2012, the company was a successful and profitable, but somewhat plodding, enterprise. Then only one of the three US credit bureaus to be privately held, it had long-standing customer relationships and a reputation for service excellence, but its growth was modest and its technology outdated.
To us, TransUnion’s potential was clear. With a strategic capital infusion, a modern technology stack, and a roadmap for sustained innovation, the company could become a data powerhouse with a global footprint.
Immediately after acquiring the company from the Pritzker family and Madison Dearborn Partners, we set out to modernize the business. Working in tandem with CEO Bobby Mehta at first, and then his successor Jim Peck – a veteran of LexisNexis – we embarked on a series of digital transformation initiatives, devised a robust M&A strategy, and worked to attract a series of exceptional executives to fill out the management team.
The critical first step was to replace the legacy mainframe infrastructure to ramp up the company’s data capabilities. Tapping our deep expertise in technology and financial services, Advent partnered with management to develop a new, agile database architecture built to address the sophisticated fraud protection and data analysis needs of creditors and other customers.
Jim Peck Former CEO, TransUnion
Former CEO, TransUnion
We leveraged Advent’s presence across the globe to help TransUnion acquire 15 companies. This strengthened its product offerings and expanded its reach to 33 countries, from the Americas to Africa and Asia, including one of the highest-growth markets at the time, India. As we helped customize TransUnion’s services and pricing structure, the company became a leading data supplier to the fast-growing fintech sector.
The results were dramatic and swift. Within a couple of years, TransUnion was transformed into a nimble, tech-driven enterprise with the highest growth rate among the credit bureaus. We took the company public in 2015. By the time we fully exited our investment two years later, TransUnion was on a path to sustained long-term growth. Today, the company has a market value of more than $22 billion.
Advent’s involvement in TransUnion was predicated on the unique skills we brought to the partnership. Our global relationships and footprint, appetite for operational overhauls, and background in payments allowed us to strengthen and modernize TransUnion’s product offerings, helping a good company become an exceptional one.
Advent’s current Tech team was not involved in this investment.