Clayton, Dubilier & Rice (CD&R) has reached an agreement with HD Supply Holdings Inc. to acquire its HD Supply Waterworks division for $2.5 billion.
Through, a carve-out transaction, HD Supply Waterworks (Waterworks) will become an independent company, wholly-owned by CD&R funds. The transaction is expected to close in HD Supply’s third fiscal quarter of 2017 subject to customary regulatory approvals.
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