M&A Deal Summary

CD&R Acquires Core & Main

On June 6, 2017, private equity firm CD&R acquired distribution company Core & Main from HD Supply for 2.5B USD

Acquisition Highlights
  • This is CD&R’s 9th transaction in the Distribution sector.
  • This is CD&R’s 15th largest (disclosed) transaction.
  • This is CD&R’s 37th transaction in the United States.
  • This is CD&R’s 1st transaction in Missouri.
Investment Fate
  • Core & Main went public in 2021.

M&A Deal Summary

Date 2017-06-06
Target Core & Main
Sector Distribution
Buyer(s) CD&R
Sellers(s) HD Supply
Deal Type Divestiture
Deal Value 2.5B USD

Target

Core & Main

St. Louis, Missouri, United States
Core & Main is a distributor of water, sewer, storm, fusible piping, and fire protection infrastructure products that serves the needs of both contractors and municipalities in all aspects of the water, wastewater, clean water, landfill, energy, and fire protection industries. Core & Main was founded in 1874 and is based in St. Louis, Missouri.

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Buyer(S) 1

Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.


DEAL STATS #
Overall 51 of 92
Sector (Distribution) 9 of 17
Type (Divestiture) 19 of 25
State (Missouri) 1 of 1
Country (United States) 37 of 67
Year (2017) 3 of 6
Size (of disclosed) 15 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-23 Capco

London, United Kingdom

Capco is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track transformation initiatives for the banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco was founded in 1998 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-17 Venko Groep B.V.

Hoogeveen, Netherlands

Venko Groep B.V. is a provider of fabric maintenance services throughout the life cycle of assets, both offshore and onshore. The company offshore division delivers fabric maintenance services on oil & gas production platforms, windfarms and a wide variety of other offshore facilities.

Buy -

Seller(S) 1

SELLER

HD Supply

Atlanta, Georgia, United States

Category Company
Founded 2007
Sector Distribution
Employees11,000
Revenue 6.1B USD (2020)
DESCRIPTION
HD Supply's headquarters in Atlanta, Georgia.
HD Supply's headquarters in Atlanta, Georgia.

HD Supply is a wholesale distributor of a broad range of products and services to professional customers in the infrastructure, energy, maintenance, repair & improvement, and specialty construction markets. HD Supply was founded in 2007 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 5 of 7
Sector (Distribution) 4 of 6
Type (Divestiture) 5 of 7
State (Missouri) 1 of 1
Country (United States) 5 of 7
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-27 HD Supply - Interior Solutions business unit

United States

HD Supply - Interior Solutions business unit ("HDIS") is a distributor of design center management and installation services to large national and regional homebuilders, operating out of more than 50 design centers throughout the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-03 A.H. Harris Construction Supplies

Hartford, Connecticut, United States

A.H. Harris Construction supplies a high-quality construction products and equipment for contractors, construction companies and government entities in the concrete construction, repair and restoration, road and bridge, rebar and rebar fabrication, waterproofing and glazing markets. It represents 500+ manufacturers and over 13,000 products. A.H. Harris has over 600 experienced team members, a multitude of delivery options and over 50 convenient locations in 12 states.

Buy $380M