CD&R Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, CD&R has acquired 21 companies. It has also invested in 1 other.

CD&R’s most common sectors for investment aredistribution (19%) and business services (12%) . The Firm’s most common investment types include secondary buyout (28%) and divestiture (27%). In total, CD&R has invested in 20 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 2005 when it acquired Hertz Global Holdings for $15.0B.

In the last 3 years, CD&R has exited 5 companies. The Firm’s most common exit type is ipo (43%). CD&R’s largest (disclosed) exit occurred in 2021 when it sold Solenis for $5.3B.

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M&A Summary

  • M&A Total Activity132
    • M&A Buy Activity90
    • M&A Sell Activity42
  • Total Sectors Invested 27
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 56
  • M&A Advisors 39

CD&R

Clayton, Dubilier & Rice, LLC

375 Park Avenue, 18th Floor,
New York, New York 10152
United States
(212) 407-5200
www.cdr-inc.com

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Distribution, Electrical Equipment, Engineering, Food, Healthcare Services, Information Services, Manufacturing, Medical Products, Retail, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Recapitalization, PIPE, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Nordic, Asia/Pacific

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (5.6/yr) # 62 6 10 6 4 2 90
vol $65.1B $885M $20.2B $9.8B $7.0B $103.1B
Sell (1.2/yr) # 36 1 5 - - - 42
vol $21.2B $9.2B $30.4B
  132

Most Recent M&A

Company Date Value Type
Presidio, Inc. 2024-04-02 - Secondary Buyout
New York, New York · www.presidio.com
Foundation Building Materials LLC 2024-01-31 - Secondary Buyout
Santa Ana, California · www.fbmsales.com
Shearer's Foods, Inc. 2023-12-13 - Secondary Buyout
Massillon, Ohio · www.shearers.com
Veritiv Corp. 2023-08-07 - Going Private
Atlanta, Georgia · www.veritiv.com
Focus Financial Partners LLC 2023-02-27 7.0B USD Going Private
New York, New York · www.focusfinancialpartners.com
Pursuit Aerospace 2023-02-16 - Consolidation
Manchester, Connecticut · www.pursuitaero.com
OCS Group Holdings Ltd. 2022-07-28 - Buyout (LBO, MBO, MBI)
London, United Kingdom · www.ocs.com
ATALIAN Global Services 2022-07-28 - Buyout (LBO, MBO, MBI)
Vitry-sur-Seine, France · www.atalian.com
Covetrus, Inc. 2022-05-25 4.0B USD Going Private
Portland, Maine · www.covetrus.com
Gentiva Health Services 2022-04-21 - Divestiture
Louisville, Kentucky
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Cornerstone Building Brands, Inc. 2022-03-07 Harvey Building Products 2024-03-20 2
Cary, North Carolina · www.cornerstonebuildingbrands.com Waltham, Massachusetts · www.harveywindows.com
Veritiv Corp. 2023-08-07 Vivabox Solutions LLC 2024-02-21 2
Atlanta, Georgia · www.veritiv.com Rockville, Maryland · www.vivaboxusa.com
Focus Financial Partners LLC 2023-02-27 UPTIQ Treasury and Credit Solutions LLC 2024-01-29 1
New York, New York · www.focusfinancialpartners.com New York, New York
Indicor LLC 2022-01-01 Compressor Controls Corp. 2023-04-26 1
Charlotte, North Carolina · www.indicor.com Des Moines, Iowa · www.cccglobal.com
Pursuit Aerospace 2023-02-16 Dynamic Precision Group, Inc. 2023-02-16 2
Manchester, Connecticut · www.pursuitaero.com Stuart, Florida
Pursuit Aerospace 2023-02-16 Whitcraft LLC 2023-02-16 1
Manchester, Connecticut · www.pursuitaero.com Eastford, Connecticut · www.whitcraft.com
S&S Activewear LLC 2021-03-12 Ouray Sportswear LLC 2023-01-03 1
Bolingbrook, Illinois · www.ssactivewear.com Englewood, Colorado · www.ouraysportswear.com
Multi-Color Corp. 2021-07-02 Lux Global Label 2022-12-12 3
Batavia, Ohio · www.mcclabel.com Lafayette Hill, Pennsylvania · www.luxgloballabel.com
Huntsworth PLC 2020-05-01 Evoke Group 2022-12-07 1
London, United Kingdom · www.huntsworth.com New York, New York · www.evokegroup.com
Epicor Software Corp. 2020-08-31 Evron Computer Systems - Professional Services Assets 2022-11-01 8
Austin, Texas · www.epicor.com Markham, Ontario

M&A by Sector

Sector Current # Value All-time # Value
Distribution 8 (17%) 474M (1%) 17 (19%) 25.2B (24%)
Business Services 7 (15%) 3.7B (9%) 10 (11%) 3.7B (4%)
Healthcare Services 5 (11%) 910M (2%) 9 (10%) 4.1B (4%)
Consumer Services 2 (4%) 4.0B (10%) 6 (7%) 24.5B (24%)
Building Materials 2 (4%) 6.2B (15%) 5 (6%) 8.6B (8%)
Retail 3 (7%) 1.8B (4%) 5 (6%) 1.8B (2%)
Consumer Products 2 (4%) - 4 (4%) 1.0B (1%)
Medical Products 3 (7%) - 4 (4%) -
Food 2 (4%) - 3 (3%) -
Financial Services 1 (2%) 7.0B (17%) 2 (2%) 7.4B (7%)
Software 2 (4%) 5.3B (13%) 2 (2%) 5.3B (5%)
Engineering - - 2 (2%) 2.4B (2%)
Chemicals - - 2 (2%) 1.8B (2%)
Packaging 1 (2%) - 2 (2%) 1.7B (2%)
Aerospace 1 (2%) - 2 (2%) 1.2B (1%)
Marketing 1 (2%) 885M (2%) 2 (2%) 885M (1%)
Information Technology 1 (2%) - 2 (2%) -
Restaurants 2 (4%) - 2 (2%) -
E-Commerce 1 (2%) 10.8B (26%) 1 (1%) 10.8B (10%)
Technology Hardware - - 1 (1%) 1.6B (2%)
Communications - - 1 (1%) 1.1B (1%)
Automotive 1 (2%) - 1 (1%) -
Construction 1 (2%) - 1 (1%) -
Defense - - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Manufacturing - - 1 (1%) -
Transportation - - 1 (1%) -
Total 46 $41.1B 90 $103.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 32 (70%) 24.5B (60%) 65 (72%) 81.3B (79%)
  Illinois 2 (4%) - 8 (9%) 12.3B (12%)
  Texas 2 (4%) 395M (1%) 8 (9%) 1.6B (2%)
  Georgia 5 (11%) - 7 (8%) 9.0B (9%)
  Tennessee 2 (4%) - 6 (7%) 8.7B (8%)
  Florida 4 (9%) 910M (2%) 5 (6%) 15.9B (15%)
  North Carolina 2 (4%) 5.8B (14%) 5 (6%) 8.2B (8%)
  Ohio 3 (7%) - 4 (4%) -
  New York 3 (7%) 7.0B (17%) 3 (3%) 7.0B (7%)
  Pennsylvania 1 (2%) 1.1B (3%) 3 (3%) 3.0B (3%)
  California 2 (4%) 5.3B (13%) 2 (2%) 5.3B (5%)
  Washington 2 (4%) - 2 (2%) -
  Maine 1 (2%) 4.0B (10%) 2 (2%) 4.0B (4%)
  Kentucky 1 (2%) - 2 (2%) 1.6B (2%)
  Connecticut 1 (2%) - 2 (2%) 415M (< 1%)
  Massachusetts 1 (2%) - 1 (1%) -
  Missouri - - 1 (1%) 2.5B (2%)
  Delaware - - 1 (1%) 1.8B (2%)
  South Carolina - - 1 (1%) -
  New Jersey - - 1 (1%) -
  Montana - - 1 (1%) -
United Kingdom 9 (20%) 12.9B (31%) 14 (16%) 12.9B (13%)
France 3 (7%) - 5 (6%) 2.4B (2%)
Germany 1 (2%) - 2 (2%) 1.7B (2%)
Ireland 1 (2%) 3.7B (9%) 1 (1%) 3.7B (4%)
Italy - - 1 (1%) 1.1B (1%)
Canada - - 1 (1%) -
  British Columbia - - 1 (1%) -
Netherlands - - 1 (1%) -
Domestic 32 (70%) 24.5B (60%) 65 (72%) 81.3B (79%)
Cross-border 14 (30%) 16.6B (40%) 25 (28%) 21.8B (21%)
Total 46 $41.1B 90 $103.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 15 (33%) 2.7B (7%) 25 (28%) 11.4B (11%)
Divestiture 8 (17%) 869M (2%) 24 (27%) 41.9B (41%)
Buyout (LBO, MBO, MBI) 8 (17%) - 13 (14%) 1.2B (1%)
Going Private 8 (17%) 37.5B (91%) 11 (12%) 48.6B (47%)
Stake Purchase 3 (7%) - 7 (8%) -
Growth Capital 2 (4%) - 3 (3%) -
Recapitalization 1 (2%) - 3 (3%) -
Consolidation 1 (2%) - 2 (2%) -
PIPE - - 2 (2%) -
Total 46 $41.1B 90 $103.1B

Exits by Deal Type

Type Total # Value
IPO 18 (43%) -
Trade Sale - Public Company 11 (26%) 21.8B (72%)
Secondary Sale 5 (12%) 6.4B (21%)
Trade Sale 3 (7%) 2.3B (8%)
Bankruptcy 3 (7%) -
Merger 1 (2%) -
Recapitalization 1 (2%) -
Total 42 $30.4B

Top M&A Advisors

Financial Deals
Deutsche Bank Corporate & Investment Banking
 16
BofA Securities
 14
UBS Investment Bank
 13
Legal Deals
Debevoise & Plimpton
 56
Clifford Chance
 6
Kirkland & Ellis
 6

Deal Values

buy # Total
> $1B 22 $97.5B
$100M to $1B 10 $5.6B
TOTAL $103.1B
Largest Hertz Global Holdings, Inc.
$15.0B (2005-09-11)
sell # Total
> $1B 13 $29.7B
$100M to $1B 1 $745M
TOTAL $30.4B
Largest Solenis LLC
$5.3B (2021-07-06)

M&A Connections

Deals
Acquired from
Investor(s)
26%
23 (26%)
Strategic(s)
29%
26 (29%)
Exited to
Investor(s)
17%
7 (17%)
Strategic(s)
36%
15 (36%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

30.0B USD

Established

1978

Specialist/Generalist

Generalist

Leadership

Nathan Sleeper

CEO

Donald Gogel

Chairman

Joseph Rice, III

Founder

Roberto Quarta

Chairman, CD&R Europe

David Novak

Co-President

FAQ

When was CD&R founded?

CD&R was founded in 1978.

What type of investor is CD&R?

CD&R is a private equity firm.

Where is CD&R headquartered?

CD&R is headquartered in New York, New York.

How much capital does CD&R have under management?

CD&R has 30.0B USD under management.

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