Private equity fund to purchase Chamberlain Group

The Chamberlain Group LLC has announced that parent Duchossois Group has reached a deal to sell it to a private equity fund managed by Blackstone. Following the close of the transaction, Chamberlain Group would remain a privately-held company headquartered in Oak Brook, Ill. As part of the agreement, Duchossois Group will retain meaningful ownership in the company and two seats on its board of directors. The transaction values Chamberlain Group at approximately $5 billion.