NEW YORK, Feb. 6, 2020
/PRNewswire/ -- Clayton, Dubilier & Rice today announced
the completion of the previously announced partnership transaction
with Brookfield Business Partners L.P., together with its
institutional partners (collectively "Brookfield"), in which Brookfield acquired approximately half of
CD&R funds' ownership interest in Brand Industrial Services
("BrandSafway"), a leading provider of specialized services to
global industrial, commercial, and infrastructure
markets.
As part of the transaction, Brookfield and funds managed by CD&R each
invested approximately $200 million
of primary equity to provide BrandSafway with support and balance
sheet flexibility to pursue accretive acquisitions and other growth
and margin improvement initiatives.
Following the close, Brookfield
and funds managed by CD&R each own approximately 48% of the
company. BrandSafway management has retained a minority interest in
the business.
About Clayton, Dubilier & Rice
Clayton, Dubilier
& Rice is a private investment firm with a strategy predicated
on building stronger, more profitable businesses. Since inception,
CD&R has managed the investment of $30
billion in 89 businesses representing a broad range of
industries with an aggregate transaction value of approximately
$140 billion. The Firm has offices in
New York and London. For more information, please visit
www.cdr-inc.com.
About Brookfield Business Partners
Brookfield Business
Partners is a business services and industrials company focused on
owning and operating high-quality businesses that benefit from
barriers to entry and/or low production costs.
Brookfield Business Partners is the flagship listed business
services and industrials company of Brookfield Asset Management, a
leading global alternative asset manager with more than
$540 billion of assets under
management. More information is available at
www.brookfield.com.
Brookfield Business Partners is listed on the New York and Toronto stock exchanges. For more information,
please visit https://bbu.brookfield.com.
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SOURCE Clayton, Dubilier & Rice