Private equity firm invests in Univar
CD&R acquires 42.5% ownership interest
Private equity firm Clayton, Dubilier & Rice LLC (CD&R) has acquired a 42.5% ownership interest in chemical distributor Univar in a deal facilitated by CVC Capital Partners.
According to CVC Capital Partners, existing Univar president and ceo John Zilmer will retain his position with the company. Meanwhile CD&R operating partner William S Stavropoulos, former chairman and ceo of The Dow Chemical Company, will act as Univar’s non-executive chairman.
“Univar’s business profile fits our investment focus perfectly and we look forward to working with CVC and the Univar management team to continue to build the business,” commented David H Wasserman, a CD&R partner. “The company is a clear market leader in an industry with favourable secular trends, broad spread of risk, significant operational improvement runway and attractive geographic expansion opportunities.”
The transaction is expected to close in the fourth quarter of 2010. Remaining equity will be held by Univar management and other existing investors.