NEW YORK (ots) - Clayton, Dubilier & Rice, Inc. (CD&R), a leading
global private equity firm, today announced that it has completed the
purchase of Culligan International, the leading global provider of
water treatment products and services, from Veolia Environnement SA
of France (Paris Bourse: VIE). The purchase price was $610 million,
including $200 million of equity from a CD&R-managed fund and the
remainder comprised of a combination of senior debt and high yield
securities.
Culligan, the most recognized brand in the water treatment
industry, is a leading global provider of water treatment products
and services for household and commercial applications. The company
has cultivated a reputation based on service, quality and water
expertise over its nearly 70 years of industry leadership. For the
12 months ended June 30, 2004, the company had sales $718 million.
Based in Northbrook, Illinois, Culligan has 5,500 employees
worldwide, and a network of nearly 900 company owned and franchised
dealerships in North America and Western Europe.
"Culligan will benefit from our past experience in building
service companies into larger and more dynamic businesses," said
Bruno Deschamps, a CD&R partner involved in the transaction.
This is CD&R's second acquisition in 2004 of a division of a
European-based parent with significant North American operations. It
follows CD&R's $1.65 billion acquisition earlier this year of VWR
International, a global distributor of laboratory supplies from Merck
KGaA of Germany. Also in 2004, CD&R sold Kinko's to FedEx
Corporation, Jafra Cosmetics to Vorwerk & Co. KG and completed a
successful secondary offering of a portion of its fund's ownership
interest in SIRVA, the Chicago-based global relocation services
company.
"Our hands-on operational approach is particularly well suited to
tackling complex business situations and helping to redefine a
company's position in the marketplace," said Bruno Deschamps.
"Culligan has an outstanding dealer network, a great brand and strong
management that we can leverage to create new growth opportunities."
"We will draw upon our experience with manufacturing and
distribution companies to accelerate Culligan's growth," said Mr.
Deschamps. "A key focus will be to partner with our global network of
dealers to implement the right initiatives and grow the business
internationally."
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice, Inc. (CD&R) is a leading private equity
investment firm that has earned consistent, superior investment
returns using an integrated operational and financial approach to
building and growing portfolio businesses. Since its founding in
1978, CD&R has managed the investment of over $5 billion in 36
businesses - mostly subsidiaries or divisions of large multi-business
corporations - representing a broad range of industries with an
aggregate transaction value in excess of $20 billion and revenues of
more than $27 billion. The firm has offices in New York and London.
For more information about CD&R, visit www.cdr-inc.com.
About Culligan
Among the most widely recognized brand names in America, Culligan
has been manufacturing and distributing water treatment products and
bottled water for household and commercial use worldwide since 1936,
and entered the air purification market in 2003. Culligan's network
of dealerships and licensees worldwide is committed to delivering
superior customer satisfaction and expertise. For more information,
call a local dealership or 1-800-Culligan or visit Culligan's website
at www.culligan.com.
ots Original Text Service: Clayton, Dubilier & Rice
Internet: http://www.presseportal.de
CD&R Media Contacts:
New York: Chris Tofalli, Thomas C. Franco, Tel +1 212 232-2222
France: Stephanie Tabouis, Tel +33 144 43 66 20
U.K.: Philip Gawith, Tel +44 207 379 5151
Germany: Tobias Weitzel, Tel +49 177 721 5760
Italy: Patrick Trancu, Tel +39 258 45 701
global private equity firm, today announced that it has completed the
purchase of Culligan International, the leading global provider of
water treatment products and services, from Veolia Environnement SA
of France (Paris Bourse: VIE). The purchase price was $610 million,
including $200 million of equity from a CD&R-managed fund and the
remainder comprised of a combination of senior debt and high yield
securities.
Culligan, the most recognized brand in the water treatment
industry, is a leading global provider of water treatment products
and services for household and commercial applications. The company
has cultivated a reputation based on service, quality and water
expertise over its nearly 70 years of industry leadership. For the
12 months ended June 30, 2004, the company had sales $718 million.
Based in Northbrook, Illinois, Culligan has 5,500 employees
worldwide, and a network of nearly 900 company owned and franchised
dealerships in North America and Western Europe.
"Culligan will benefit from our past experience in building
service companies into larger and more dynamic businesses," said
Bruno Deschamps, a CD&R partner involved in the transaction.
This is CD&R's second acquisition in 2004 of a division of a
European-based parent with significant North American operations. It
follows CD&R's $1.65 billion acquisition earlier this year of VWR
International, a global distributor of laboratory supplies from Merck
KGaA of Germany. Also in 2004, CD&R sold Kinko's to FedEx
Corporation, Jafra Cosmetics to Vorwerk & Co. KG and completed a
successful secondary offering of a portion of its fund's ownership
interest in SIRVA, the Chicago-based global relocation services
company.
"Our hands-on operational approach is particularly well suited to
tackling complex business situations and helping to redefine a
company's position in the marketplace," said Bruno Deschamps.
"Culligan has an outstanding dealer network, a great brand and strong
management that we can leverage to create new growth opportunities."
"We will draw upon our experience with manufacturing and
distribution companies to accelerate Culligan's growth," said Mr.
Deschamps. "A key focus will be to partner with our global network of
dealers to implement the right initiatives and grow the business
internationally."
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice, Inc. (CD&R) is a leading private equity
investment firm that has earned consistent, superior investment
returns using an integrated operational and financial approach to
building and growing portfolio businesses. Since its founding in
1978, CD&R has managed the investment of over $5 billion in 36
businesses - mostly subsidiaries or divisions of large multi-business
corporations - representing a broad range of industries with an
aggregate transaction value in excess of $20 billion and revenues of
more than $27 billion. The firm has offices in New York and London.
For more information about CD&R, visit www.cdr-inc.com.
About Culligan
Among the most widely recognized brand names in America, Culligan
has been manufacturing and distributing water treatment products and
bottled water for household and commercial use worldwide since 1936,
and entered the air purification market in 2003. Culligan's network
of dealerships and licensees worldwide is committed to delivering
superior customer satisfaction and expertise. For more information,
call a local dealership or 1-800-Culligan or visit Culligan's website
at www.culligan.com.
ots Original Text Service: Clayton, Dubilier & Rice
Internet: http://www.presseportal.de
CD&R Media Contacts:
New York: Chris Tofalli, Thomas C. Franco, Tel +1 212 232-2222
France: Stephanie Tabouis, Tel +33 144 43 66 20
U.K.: Philip Gawith, Tel +44 207 379 5151
Germany: Tobias Weitzel, Tel +49 177 721 5760
Italy: Patrick Trancu, Tel +39 258 45 701
© 2004 news aktuell
