Clayton, Dubilier & Rice
|Private Equity Investment Firm|
New York City, New York, The USA
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 of private equity
and venture capital
|(origins of modern private equity)|
|(leveraged buyout boom)|
|(leveraged buyout and the venture capital bubble)|
|(dot-com bubble to the credit crunch)|
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 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
- 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.
- 2013 Completed its exit from the Hertz investment in 2013.
- 2014 February acquisition of Ashland Inc's water treatment business announced. $1.8bn
- 2014 July acquired Healogics in a $910m transaction.
- 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.
- a/o June 1, 2012
- Founder—Joseph L. Rice, III
- Chairman & CEO—Donald J. Gogel
- Managing Partner—James D. Ahn
- Uniroyal Goodrich Tire Co reports earnings for Qtr to Sept 30, New York Times Archive, Published: October 14, 1988
- Company News; Goodrich Outlook, REUTERS, New York Times Archive, Published: June 24, 1988
- INSIDE, New York Times, Published: September 23, 1989
- "Press Release" (PDF).
- "Deere to Sell Majority Interest in Landscapes Business". 28 October 2013. Retrieved 18 November 2013.
- "John Deere Landscapes Unveils New Name as SiteOne Landscape Supply". 14 August 2015. Retrieved 13 October 2016.
- http://www.cdr-inc.com/investments/hertz.php. Missing or empty
- Herman, Bob (7 July 2014). "Private equity firm buys Healogics for $910m". Modern Healthcare.
- "Partners and Senior Advisors", CDR webpage. Retrieved 2012-06-01.