Clayton, Dubilier & Rice

Clayton, Dubilier & Rice, LLC
Private Equity Investment Firm
Industry Buyouts
Founded 1978 (1978)
Headquarters Seagram Building
New York City, New York, The USA
Website www.cdr-inc.com

Clayton, Dubilier & Rice is one of the oldest private equity investment firms in the world. Founded in 1978, CD&R has managed the investment of approximately $17 billion in 52 businesses—mostly subsidiaries or divisions of large multi-business corporations—representing a broad range of industries with an aggregate transaction value in excess of $80 billion. Approximately sixty percent of CD&R's transactions have involved corporate divestitures.

CD&R has ownership stakes in Emergency Medical Services Corporation, The Hertz Corporation, Rexel (a distributor of electrical parts and equipment) and US Foods (a broadline foodservice distributor), amongst other companies. CD&R formerly owned or had ownership in such companies as Sally Beauty, Diversey, Inc., VWR International, Brake Bros, Kinko's (now FedEx Office, previously FedEx Kinko's), Uniroyal Goodrich Tire Company and Lexmark.

History

Timeline of Clayton, Dubilier, and Rice transactions

  • 1978 Founded by Joseph L. Rice III, Martin H. Dubilier and Eugene Clayton
  • June 1988 Acquired Uniroyal Goodrich Tire Company,[1] 50% stake from B.F. Goodrich for US$225 million,[1][2] and 50% from others
  • 1990 Sold Uniroyal Goodrich Tire Company to Michelin for US$1.5 billion.[3]
  • 1991 Acquired Lexmark
  • 1993 Acquired Allison Engine
  • 1993 Acquired Remington Arms
  • 1993 Acquired Van Kampen Merritt
  • 1994 Acquired Wesco Distribution (was Westinghouse Electric's Distribution Arm)
  • 1995 Sold Allison Engine
  • 1995 Acquired Alliant Exchange, Inc
  • 1995-1998 Sold Lexmark
  • 1996 Sold Van Kampen Merritt
  • 1998 Acquired JAFRA Cosmetics
  • 1998 Sold Wesco Distribution
  • 1998 - 1999 Acquired North American Van Lines and Allied Van Lines
  • 2000 Invested in Italtel
  • 2001 Sold Alliant Exchange, Inc
  • 2002 Invested in Brakes
  • 2002 Acquired the National Association of Independent Truckers, Inc., a wholly owned company specializing in insurance belonging to Cheryl Womack
  • 2003 Sold part of Remington Arms
  • 2003-2004 Sold most of SIRVA in public equity offering.
  • 2004 Sold Kinko's to FedEx
  • 2004 Invested in VWR International
  • 2004 Sold Jafra Cosmetics (an international cosmetics company) to Vorwerk
  • 2004 Acquired Culligan
  • 2005 Acquired Hertz
  • 2005 Acquired Rexel
  • 2006 Acquired 47.5% equity interest in Sally Beauty Company, Alberto-Culver’s beauty supply distribution business, as part of a broader recapitalization of Alberto-Culver, which included the tax free spin off of the company’s consumer business to shareholders and the listing of Sally Beauty Holdings on the New York Stock Exchange. Jim Berges, a CD&R operating partner, became chairman of Sally Beauty.
  • 2007 Acquired US Foods
  • 2007 Brake Bros sold to Bain Capital for £1.4bn
  • 2007 VWR International sold to Madison Dearborn for $3.8bn
  • 2007 Acquired ServiceMaster
  • 2007 Acquired HD Supply, along with Carlyle Group and Bain Capital (with each agreeing to buy a one-third stake in the division). Home Depot sold their wholesale construction supply business to fund a stock repurchase estimated at $40 billion.
  • 2008 October 17 acquired Exova
  • 2009 October acquired NCI Building Systems
  • 2009 November acquired Diversey, Inc.
  • 2010 February acquired British Car Auctions, Europe’s No. 1 Vehicle Auction and Remarketing Company
  • 2010 October acquired AssuraMed, a provider of specialty medical products for chronic disease patients
  • 2010 November acquired Univar, a global distributor of commodity and specialty chemicals
  • 2010 December acquired Atkore International, formerly Tyco International’s Electrical and Metal Products business
  • 2011 May acquired Emergency Medical Services Corporation, leader in facility-based physician services and medical transportation services
  • 2011 August acquired SPIE, a European leader in electrical and mechanical engineering and HVAC services, energy and communication systems
  • 2011 September acquired Hussmann, a leading manufacturer of refrigerated display merchandising equipment and refrigeration systems
  • 2012 September acquired Roofing Supply Group, one of the largest wholesale distributors of roofing supplies and related materials in the United States
  • 2012 October acquired David's Bridal, the leading specialty retailer of bridal gown and wedding-related apparel and accessories in the United States.
  • 2012 October acquired Wilsonart
  • 2013 March acquired B & M Retail[4]
  • 2013 Sold Assuramed to Cardinal Health; Over the course of ownership, EBITDA increased by approximately 88%.
  • 2013 October acquired 60% interest in John Deere Landscapes (now SiteOne Landscape Supply) – purchased Lesco in 2007.[5][6]
  • 2013 Completed its exit from the Hertz investment in 2013.[7]
  • 2014 February acquisition of Ashland Inc's water treatment business announced. $1.8bn
  • 2014 July acquired Healogics in a $910m transaction.[8]
  • 2016 June, Clayton, Dubilier & Rice acquired a controlling stake in High Ridge Brands.
  • 2017 May acquired 60% stake of Capco from FIS (company) for $477 million.[9]
  • 2018 January acquired Ply Gem Holdings, Inc. and Atrium Windows & Doors.[10]
  • 2018 Feb acquired 60% stake of American Greetings Company. [11]

Senior management

a/o June 1, 2012[12]
  • Founder—Joseph L. Rice, III
  • Chairman & CEO—Donald J. Gogel
  • Managing Partner—James D. Ahn

References

  1. 1 2 Uniroyal Goodrich Tire Co reports earnings for Qtr to Sept 30, New York Times Archive, Published: October 14, 1988
  2. ↑ Company News; Goodrich Outlook, REUTERS, New York Times Archive, Published: June 24, 1988
  3. ↑ INSIDE, New York Times, Published: September 23, 1989
  4. ↑ "Press Release" (PDF).
  5. ↑ "Deere to Sell Majority Interest in Landscapes Business". 28 October 2013. Retrieved 18 November 2013.
  6. ↑ "John Deere Landscapes Unveils New Name as SiteOne Landscape Supply". 14 August 2015. Retrieved 13 October 2016.
  7. ↑ "Hertz". Retrieved June 11, 2018.
  8. ↑ Herman, Bob (7 July 2014). "Private equity firm buys Healogics for $910m". Modern Healthcare.
  9. ↑ http://www.nasdaq.com/article/fis-to-sell-60-equity-interest-in-capco-to-receive-477-mln-in-cash-proceeds-20170523-00520
  10. ↑ "Ply Gem Holdings, Inc. Enters into a Definitive Agreement to be Acquired by Clayton, Dubilier & Rice". Retrieved 17 July 2018.
  11. ↑ Rice, Clayton, Dubilier &. "Clayton, Dubilier & Rice to Acquire Majority Interest in American Greetings". www.prnewswire.com. Retrieved 2018-02-13.
  12. ↑ "Partners and Senior Advisors", CDR webpage. Retrieved 2012-06-01.
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