Carolwood, a Los Angeles‑based private equity firm founded in 2014, has agreed to acquire Thryv Holdings’ print directories business for $142 million in an all‑cash deal. The target includes Print Yellow and White Pages operations in the U.S., Australia and New Zealand, plus their digital editions and Australia’s White Pages online. Thryv’s Internet Yellow Pages and other online assets are excluded and will remain with the company.

Thryv, an AI‑powered software platform for local service businesses, will use the proceeds to pay down debt and strengthen its balance sheet. The transaction is slated to close in Q4 2026, with Thryv and Carolwood entering a management services agreement to ensure continuity. Kroll Investment Banking and Holland & Knight advised Thryv, while Sheppard, Mullin, Richter & Hampton advised Carolwood.