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New York City, New York, United States Private Equity Investment Firm David's Bridal, Culligan, Clayton, Dubilier & Rice, Ltd. |
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.
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, 50% stake from B.F. Goodrich for US$225 million, and 50% from others
1990 Sold Uniroyal Goodrich Tire Company to Michelin for US$1.5 billion.
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 BCA, 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
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.
2014 February acquisition of Ashland Inc's water treatment business announced. $1.8bn
2014 July acquired Healogics in a $910m transaction.
a/o June 1, 2012
Founder—Joseph L. Rice, III
Chairman & CEO—Donald J. Gogel
Managing Partner—Kevin J. Conway
Clayton, Dubilier & Rice Wikipedia (Text) CC BY-SA
