JohnsonDiversey: Accelerating growth

JohnsonDiversey, Inc. and Clayton Dubilier & Rice, Inc. (“CD&R”) have announced an agreement under which a CD&R-managed fund will invest $477 million for a 46% equity interest in the company as part of a broader recapitalization transaction valued at $2.6 billion. The recapitalization will provide the company with the financial flexibility to accelerate growth in the global commercial cleaning and hygiene market. In addition to the CD&R fund investment, the transaction contemplates a debt financing package of approximately $1.9 billion. Under the terms of the agreement, the Johnson Family of Racine, Wisconsin, will retain 50% ownership in the company, and S. Curtis Johnson will remain Chairman, CD&R Operating Partner