Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Chamberlain Group Will Trade to Blackstone in $5B Deal
Smart access solutions provider The Chamberlain Group said Tuesday that its owner, The Duchossois Group, had agreed to sell it to Blackstone. The deal values Chamberlain Group at approximately $5 billion.
Following the close of the transaction, expected to occur by year’s end, Chamberlain Group will remain a privately held company headquartered in Oak Brook, IL. As part of the agreement, Duchossois Group will retain “meaningful” ownership of Chamberlain Group and two seats on its board.
“Blackstone’s deep experience and success in forming large corporate partnerships with family-led companies provides us with the perfect foundation to propel Chamberlain Group through its next chapter,” said JoAnna Sohovich, CEO of Chamberlain Group.
Seth Meisel, a senior managing director at Blackstone, said, “Chamberlain Group stands at the center of several secular mega trends — including U.S. housing and e-commerce — that are key thematic investment areas for Blackstone.”
- ◦Sale/Acquisition
