White MountainsInsurance Group Ltd. has completed the sale of Tranzact Holdings LLCto an affiliate of private equity firm ClaytonDubilier & Rice LLC.

White Mountains acquired a majority interest in Tranzact for$178 million in October 2014. At the time of the deal's announcement, the sale was estimated to increase White Mountains'book value by about $85 million, or $17 per share.

Debevoise & Plimpton LLP acted as legal adviser to ClaytonDubilier & Rice.

Evercore Group LLC served as lead financial adviser to Tranzactwith Petsky Prunier LLC as financial adviser. Cravath Swaine & Moore LLP actedas legal adviser to selling equity holders and Tranzact, and Lowenstein SandlerLLP acted as legal adviser to Tranzact management.