Clayton, Dubilier & Rice ("CD&R"), a global private equity firm with a strategy of building and growing the businesses in which it invests, today announced a definitive agreement to acquire Bodycote Testing Group ("BTG"), the world's leading materials testing business, from Bodycote plc. The transaction is valued at approximately pounds Sterling 417 million. Fred Kindle, a CD&R Operating Partner will serve as Chairman of BTG.
The transaction, which is conditional on the approval of Bodycote's Shareholders and the receipt of certain regulatory approvals, is expected to complete before the end of October 2008.
INFO SOURCES
Clayton, Dubilier & Rice
FIRMS
Founded in 1978, Clayton, Dubilier & Rice, Inc. is one of the most experienced and respected private equity firms. The firm's focused investment strategy is predicated on producing superior financial returns through building stronger, more profitable businesses. More than two-thirds of CD&R's transactions have involved corporate divestitures. Approximately 90 percent of the firm's historical returns have resulted directly from business improvements, as measured by earnings growth. Since inception, CD&R has managed the investment of more than $11 billion in 42 U.S. and European businesses -- mostly subsidiaries or divisions of large multi-business corporations -- representing a broad range of industries with an aggregate transaction value in excess of $65 billion and revenues of over $85 billion. CD&R's portfolio investments include such well know market leading companies as Rexel Group (RXL.PA), Hertz Global Holdings, Inc. (HTZ), Sally Beauty Holdings, Inc. (SBH) and The ServiceMaster Company. The firm is based in New York and London.
Bodycote Testing Group ("BTG"), provides technical and engineering services to the aerospace, energy, oil and gas, civil engineering, transportation, pharmaceutical, food, consumer products and medical device industries. BTG's services include quality control, product accreditation, and specification compliance mission critical to its customers and require demanding accreditation and technical know-how. BTG operates over 130 laboratories in more than 25 countries worldwide.
PEOPLE
Fred Kindle, CD&R Operating Partner
Donald J. Gogel, President and Chief Executive Officer of CD&R
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