CD&R Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, CD&R has acquired 23 companies. It has also invested in 1 other.

CD&R’s most common sectors for investment aredistribution (19%) and business services (11%) . The Firm’s most common investment types include secondary buyout (29%) and divestiture (28%). In total, CD&R has invested in 21 US states and 8 different countries. Its largest (disclosed) acquisition occurred in 2024 when it acquired TIH Insurance Holdings for $15.5B.

In the last 3 years, CD&R has exited 7 companies. The Firm’s most common exit type is ipo (40%). 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 Activity137
    • M&A Buy Activity92
    • M&A Sell Activity45
  • Total Sectors Invested 29
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 57
  • M&A Advisors 43

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 (6.0/yr) # 62 6 10 6 4 4 92
vol $65.1B $885M $20.2B $9.8B $7.0B $24.4B $127.5B
Sell (1.6/yr) # 37 1 5 - - 2 45
vol $21.2B $9.2B $2.1B $32.5B
  137

Most Recent M&A

Company Date Value Type
Cheney Brothers, Inc. 2024-08-14 2.1B USD Trade Sale
Riviera Beach, Florida · www.cheneybrothers.com
R1 RCM, Inc. 2024-08-01 8.9B USD Going Private
Murray, Utah · www.r1rcm.com
Presidio, Inc. 2024-04-02 - Secondary Buyout
New York, New York · www.presidio.com
TIH Insurance Holdings LLC 2024-02-20 15.5B USD Divestiture
Charlotte, North Carolina · www.tihinsurance.com
Foundation Building Materials LLC 2024-01-31 - Secondary Buyout
Santa Ana, California · www.fbmsales.com
Cynosure, Inc. 2024-01-19 - Merger
Westford, Massachusetts · www.cynosure.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
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Foundation Building Materials LLC 2024-01-31 Unified Door & Hardware Group LLC 2024-09-03 1
Santa Ana, California · www.fbmsales.com Pennsauken, New Jersey · www.udhgroup.com
Veritiv Corp. 2023-08-07 Orora Packaging Solutions 2024-09-03 3
Atlanta, Georgia · www.veritiv.com Buena Park, California · www.ororapackagingsolutions.com
S&S Activewear LLC 2021-03-12 Broder Bros., Co. 2024-08-06 2
Bolingbrook, Illinois · www.ssactivewear.com Trevose, Pennsylvania · www.alphabroder.com
Cloudera, Inc. 2021-06-01 Verta - Operational AI Platform 2024-06-03 3
Santa Clara, California · www.cloudera.com Menlo Park, California
Cornerstone Building Brands, Inc. 2022-03-07 Harvey Building Products 2024-03-20 3
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

M&A by Sector

Sector Current # Value All-time # Value
Distribution 7 (16%) 474M (1%) 17 (18%) 25.2B (20%)
Business Services 7 (16%) 3.7B (6%) 10 (11%) 3.7B (3%)
Healthcare Services 4 (9%) - 9 (10%) 4.1B (3%)
Consumer Services 2 (5%) 4.0B (6%) 6 (7%) 24.5B (19%)
Building Materials 2 (5%) 6.2B (10%) 5 (5%) 8.6B (7%)
Retail 2 (5%) 770M (1%) 5 (5%) 1.8B (1%)
Consumer Products 2 (5%) - 4 (4%) 1.0B (1%)
Medical Products 2 (5%) - 4 (4%) -
Food 2 (5%) - 3 (3%) -
Financial Services 1 (2%) 7.0B (11%) 2 (2%) 7.4B (6%)
Software 2 (5%) 5.3B (8%) 2 (2%) 5.3B (4%)
Engineering - - 2 (2%) 2.4B (2%)
Chemicals - - 2 (2%) 1.8B (1%)
Packaging 1 (2%) - 2 (2%) 1.7B (1%)
Aerospace 1 (2%) - 2 (2%) 1.2B (1%)
Marketing 1 (2%) 885M (1%) 2 (2%) 885M (1%)
Information Technology 1 (2%) - 2 (2%) -
Restaurants 2 (5%) - 2 (2%) -
Insurance 1 (2%) 15.5B (24%) 1 (1%) 15.5B (12%)
E-Commerce 1 (2%) 10.8B (17%) 1 (1%) 10.8B (8%)
Information Services 1 (2%) 8.9B (14%) 1 (1%) 8.9B (7%)
Technology Hardware - - 1 (1%) 1.6B (1%)
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 44 $63.5B 92 $127.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 30 (68%) 46.9B (74%) 67 (73%) 105.7B (83%)
  Illinois 2 (5%) - 8 (9%) 12.3B (10%)
  Texas 2 (5%) 395M (1%) 8 (9%) 1.6B (1%)
  Georgia 5 (11%) - 7 (8%) 9.0B (7%)
  North Carolina 3 (7%) 21.3B (34%) 6 (7%) 23.7B (19%)
  Tennessee 2 (5%) - 6 (7%) 8.7B (7%)
  Florida 2 (5%) - 5 (5%) 15.9B (12%)
  Ohio 3 (7%) - 4 (4%) -
  New York 3 (7%) 7.0B (11%) 3 (3%) 7.0B (5%)
  Pennsylvania - - 3 (3%) 3.0B (2%)
  California 2 (5%) 5.3B (8%) 2 (2%) 5.3B (4%)
  Washington 2 (5%) - 2 (2%) -
  Maine 1 (2%) 4.0B (6%) 2 (2%) 4.0B (3%)
  Kentucky 1 (2%) - 2 (2%) 1.6B (1%)
  Connecticut 1 (2%) - 2 (2%) 415M (< 1%)
  Utah 1 (2%) 8.9B (14%) 1 (1%) 8.9B (7%)
  Missouri - - 1 (1%) 2.5B (2%)
  Delaware - - 1 (1%) 1.8B (1%)
  New Jersey - - 1 (1%) -
  Montana - - 1 (1%) -
  Massachusetts - - 1 (1%) -
  South Carolina - - 1 (1%) -
United Kingdom 9 (20%) 12.9B (20%) 14 (15%) 12.9B (10%)
France 3 (7%) - 5 (5%) 2.4B (2%)
Germany 1 (2%) - 2 (2%) 1.7B (1%)
Ireland 1 (2%) 3.7B (6%) 1 (1%) 3.7B (3%)
Italy - - 1 (1%) 1.1B (1%)
Canada - - 1 (1%) -
  British Columbia - - 1 (1%) -
Netherlands - - 1 (1%) -
Domestic 30 (68%) 46.9B (74%) 67 (73%) 105.7B (83%)
Cross-border 14 (32%) 16.6B (26%) 25 (27%) 21.8B (17%)
Total 44 $63.5B 92 $127.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 14 (32%) 770M (1%) 26 (28%) 11.4B (9%)
Divestiture 8 (18%) 16.4B (26%) 25 (27%) 57.4B (45%)
Going Private 9 (20%) 46.4B (73%) 12 (13%) 57.5B (45%)
Buyout (LBO, MBO, MBI) 7 (16%) - 12 (13%) 1.2B (1%)
Stake Purchase 3 (7%) - 7 (8%) -
Growth Capital 1 (2%) - 3 (3%) -
Recapitalization 1 (2%) - 3 (3%) -
Consolidation 1 (2%) - 2 (2%) -
PIPE - - 2 (2%) -
Total 44 $63.5B 92 $127.5B

Exits by Deal Type

Type Total # Value
IPO 18 (40%) -
Trade Sale - Public Company 12 (27%) 23.9B (73%)
Secondary Sale 5 (11%) 6.4B (20%)
Bankruptcy 4 (9%) -
Trade Sale 3 (7%) 2.3B (7%)
Merger 2 (4%) -
Recapitalization 1 (2%) -
Total 45 $32.5B

Top M&A Advisors

Financial Deals
Deutsche Bank Corporate & Investment Banking
 17
BofA Securities
 15
UBS Investment Bank
 14
Legal Deals
Debevoise & Plimpton
 58
Clifford Chance
 6
Kirkland & Ellis
 6

Deal Values

buy # Total
> $1B 24 $121.9B
$100M to $1B 10 $5.6B
TOTAL $127.5B
Largest TIH Insurance Holdings LLC
$15.5B (2024-02-20)
sell # Total
> $1B 14 $31.8B
$100M to $1B 1 $745M
TOTAL $32.5B
Largest Solenis LLC
$5.3B (2021-07-06)

M&A Connections

Deals
Acquired from
Investor(s)
26%
24 (26%)
Strategic(s)
29%
27 (29%)
Exited to
Investor(s)
16%
7 (16%)
Strategic(s)
38%
17 (38%)

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

Roberto Quarta

Chairman, CD&R Europe

David Novak

Co-President

Richard Schnall

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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