Thryv Holdings, Inc. (NASDAQ: THRY) has entered into a definitive agreement to sell its print directories business to Carolwood L.P. for a total cash consideration of $142 million, according to a Form 8-K filed with the SEC on September 12, 2026. The transaction involves Thryv’s wholly-owned subsidiary, Thryv, Inc., acting as the seller, and Coldwater YP, LLC, an affiliate of Carolwood, as the purchaser.
The assets being sold include the print Yellow and White Pages directories in the United States, Australia, and New Zealand, along with the digital editions of those directories and the Australia White Pages online. Notably, Thryv’s Internet Yellow Pages (IYP) and other online properties are excluded from the deal and will be retained by the company.
The Asset Purchase Agreement is subject to customary closing conditions and includes provisions for purchase price adjustments, representations, warranties, and covenants. The transaction is expected to close in the fourth quarter of 2026.
Thryv intends to use the net proceeds from the sale to repay outstanding debt and other liabilities, a move the company states will strengthen its balance sheet. The filing notes that the divestiture is expected to materially improve Thryv’s financial profile going forward.
Following the closing, Thryv and Carolwood will enter into a management services agreement to support the continuity of operations for a period of time. Thryv’s Chief Executive Officer and Chairman, Joe Walsh, stated that the sale allows the company to concentrate its strategy and resources on its AI-powered Growth Platform.
Thryv was represented by Kroll Investment Banking as its exclusive financial advisor and Holland & Knight LLP as legal counsel. Carolwood was represented by Sheppard, Mullin, Richter & Hampton LLP as legal counsel.
